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of <h1>RBI Lifts Restrictions on Kotak Mahindra Bank After IT Compliance; Bank Can Issue New Credit Cards Again</h1> The Reserve Bank of India (RBI) has lifted the business restrictions on Kotak Mahindra Bank, allowing it to issue new credit cards and onboard customers digitally. These restrictions were imposed due to IT-related concerns, but the bank has since implemented remedial measures, including an external IT audit. The RBI's decision follows the bank's compliance with these measures. The restrictions had previously led to a decline in the bank's credit card numbers and unsecured loans. The bank estimates the embargo cost at Rs 450 crore annually. The RBI's approach under new leadership may become less stringent.
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