India's central bank orders Kotak Mahindra Bank to stop signing up new customers through its online and mobile banking channels and cease issuing fresh credit cards after finding "serious deficiencies and non-compliances" in its IT practice

https://indianexpress.com/article/explained/explained-economics/rbi-barred-kotak-mahindra-bank-9288739/ See hiring Amazon guys in fintech without domain knowledge will be disaster . Kotak811 will close down

Had a bank account of Kotak where it was inoperative from 1.5 years and NMC Charges went to 7900 INR. When I went to close the account they started insisting me to pay the charges. How do we deal this folks, coz at the time of taking account they said it is zero balance and then after salary stopped crediting they converted into a savings account with mostly generic alerts !!!! Looteri banks. 😏😒

Is there anyone from Paytm who knows what's going on ?

https://m.economictimes.com/tech/startups/p2p-lenders-to-stop-liquid-funds-as-rbi-peers-into-business/articleshow/108686922.cms https://twitter.com/ravihanda/status/1771021456287088858

PAYTM Payments Bank essentially asked to shut shop. Afaik here are the few implications 1. Stock market will react in a bad way to them 2. Worst affected are going to be FasTag users who bought from PayTM. 3. No deposits / credits allowed in any account. Withdrawal is allowed. 4. UPI not allowed after Feb

Hi, I’m looking for an saving bank account to open online without need to go bank offline. This is just to park some money for sometime, as if it’s main account I just keep spending it. Main purpose is only to park some time and then once I get some lumpsum saved, around ~4/5L, will use it for any investment or need spend at that time. My main account currently which I use is Kotak and ICICI and I had used HDFC some years before but not using now. So I’m looking for some other bank account or the new age neo banks etc kind off with better return / rewards or offers but the core not to visit any bank offline for any purpose. Thanks

Why did this happen? Slice already owns an NBFC license. What does this help them achieve? "to better serve their shared mission and reach more consumers who currently lack access to basic banking services"