Current Affairs · Banking and Finance
What major regulatory concern or systemic failure led the RBI to bar Kotak Mahindra Bank from onboarding new online customers in April 2024?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1A confirmed external security breach resulting in customer data theft
- 2A failure to meet priority sector loan disbursement targets
- 3Serious deficiencies and service disruptions in the bank's Core Banking System and IT risk management✓
- 4A steep decline in customer deposits
Correct answer
Serious deficiencies and service disruptions in the bank's Core Banking System and IT risk management
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