Kotak Mahindra Bank : Shares of Kodak Mahindra Bank fell as much as 10 percent.
Kodak Mahindra Bank is the first bank in India to announce the launch of zero (0.00) balance bank account. Also, the facility of opening new bank accounts online has also attracted more customers. Kodak Mahindra Bank has increased its services including providing credit cards online.
Just call the mobile number 811 and all the self-verification details of the customers called KYC will be completed online immediately. Similarly, credit card services are provided online. The RBI yesterday took action against Kodak Mahindra Bank for violating the RBI norms for the years 2022 and 2023, saying that such rapid growth is against RBI norms.
Accordingly, RBI has banned Kodak Mahindra Bank from adding new customers through online and mobile apps and issuing new credit cards online.
It is said that this step has been taken considering the speedy execution of work through online, unsecured credit burden and the situation where the account details of the customers are affected.
After such a ban incident was imposed on Kodak Mahindra Bank yesterday, today (Thursday) the shares of Kodak Mahindra Bank fell drastically, as it was expected that there would be an impact on its shares. Shares of Kodak Mahindra Bank are down 10% today. Currently, the price of one share of the bank is Rs 1,658.70.
It is said that after the analysis of the ban on Kodak Mahindra Bank, the banned services of Kodak Mahindra Bank may resume subject to the Reserve Bank norms and the old services which are already being implemented by the bank will continue.
The post Yesterday RBI banned…. Stocks down today… Current situation of Kodak Mahindra Bank… first appeared on oneindias info.
