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Kotak Mahindra Bank shares plunge 10% following RBI order

Hindustan Times 25 Apr 2024
The Reserve Bank of India (RBI) barred Kotak Mahindra Bank from adding new customers via its online portal and mobile app and from issuing new credit cards owing to significant shortcomings in its IT system, it said.
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Unlimit Jumps into Indian Payments Arena, Clinches RBI Approval

Finance Magnates 25 Apr 2024
Unlimit, a global fintech company, has announced its entry into the Indian market, accompanied by the receipt of its Reserve Bank of India (RBI) Online Payment Aggregator license ... Asheesh Agrawal, the CEO of Unlimit India, said.
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REFILE-India's Kotak Mahindra plunges about 10% after ban on adding new clients digitally

Hindustan Times 25 Apr 2024
The Reserve Bank of India on Wednesday ordered Kotak to stop taking on new customers via its online and mobile banking channels, and from issuing new credit cards, due to information technology-related deficiencies.
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Kotak Mahindra Bank cannot add new customers as per RBI order: Is your money in ...

Hindustan Times 25 Apr 2024
Kotak Mahindra Bank was directed by the Reserve Bank of India (RBI) to stop onboarding any new customers through its online and mobile banking channels ... online and offline without restrictions.
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Indian stock market: 7 key things that changed for market overnight - Gift Nifty, fall in Meta shares to Treasury yields

Live Mint 25 Apr 2024
... BankThe Reserve Bank of India (RBI) directed Kotak Mahindra Bank to cease onboarding new customers through its online and mobile banking channels and issuing fresh credit cards with immediate effect.
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Stocks to watch: Axis Bank, Macrotech, LTIM, Nestle, Bajaj Finance, KMB

Live Mint 25 Apr 2024
On Wednesday, the Reserve Bank of India (RBI) prohibited Kotak Mahindra Bank from adding new customers via its online portal and mobile app, and from issuing new credit cards, due to significant shortcomings in its IT system.
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Modi’s vision: capitalizing on the gaming generation

Asiatimes 24 Apr 2024
In a survey conducted in India in 2021, 65 percent of respondents under the age of 20 said that they were ready to give up food and sleep to play online games ... The increasing popularity of online gambling in India can be attributed to several factors.
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India Catching Up on China Investment-Wise: What is Not Right?

Finance Magnates 24 Apr 2024
If these roadblocks are resolved, India can become a $5 trillion economy by 2027, a Mecca for global business. What stands in the way of business in India?. India can potentially become the USA of Asia, and compete with China in terms of investment.
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Petcare, travel, health: Discretionary spending could unlock $50 bn opportunity for new-age brands

Live Mint 24 Apr 2024
New-age brands in India could unlock a $50 billion market capitalization by 2030 as households expand their spending pool to include discretionary products, according to a report by venture ...
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PayU gets RBI's in-principle approval to operate as online payment aggregator

India TV 24 Apr 2024
... of India (RBI) for its online payments aggregation (PA) business.
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Why Kotak Mahindra Bank faces strict RBI curbs: How does it affect you?

Hindustan Times 24 Apr 2024
On Wednesday, the Reserve Bank of India directed Kotak Mahindra Bankto immediately stop onboarding new customers through its online and mobile banking channels and issuing fresh credit cards.
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India’s consumer tech poised for dominance in $300 b online spend: Elevation Report

Business Line 24 Apr 2024
India’s online consumer expenditure, forecasted to more than double from $140 billion to $300 billion by 2030, according to report by venture capital firm Elevation Capital.
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Kotak Mahindra Bank barred by RBI: No new credit cards, customers through online banking, mobile banking

Hindustan Times 24 Apr 2024
The Reserve Bank of India (RBI) ordered Kotak Mahindra Bank to stop onboarding new customers through its online and mobile banking channels and from issuing fresh credit cards as well.
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RBI bars Kotak Mahindra Bank from onboarding new online customers, issuing credit cards

Beijing News 24 Apr 2024
New Delhi [India], April 24 (ANI). The Reserve Bank of India (RBI) has directed Kotak Mahindra Bank to cease onboarding new customers through its online and mobile banking channels, and issuing fresh credit cards.
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