The Kotak Kerfuffle

The RBI has barred Kotak Mahindra Bank from signing up new customers through online and mobile banking channels and issuing fresh credit cards. The move–a bankers’ biggest nightmare–has resulted in Kotak Mahindra Bank losing a billion dollars in market value, and third place in market cap to its nearest rival Axis Bank on the bourses. The Morning Brief’s latest episode sheds light on the reasons behind RBI’s unilateral action, what it means for Kotak and what’s wrong with the banking sector’s adoption of tech that attracts the ire of RBI over and over again. Host  Anirban Chowdhury talks to ET’s senior editor Sangita Mehta and Umesh Jain, Digital and Technology consultant, 9dots consulting partners. Former CIO & CTO Yes Bank, NSE.

Credits: NDTV

Check out the other interesting episodes like Elections & Extremism: Ground report on the Push for polling in the Naxal-infested Bastar, Caste Census: Data for Development or a Political Ploy?, State Elections 2023: The Political Playbook You Need to Know, The Young Chanakyas of Elections 2024, and more!

You can follow Anirban Chowdhury on his social media: Twitter and Linkedin


Catch the latest episode of ‘The Morning Brief’ on ET Play, The Economic Times Online, Spotify, Apple Podcasts, JioSaavn,  Amazon Music and Google Podcasts.

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