Kotak Bank goes into damage-control mode after RBI ban ...Middle East

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Kotak Bank goes into damage-control mode after RBI ban
Mumbai: The top management of Kotak Mahindra Bank has gone into damage-control mode after RBI barred the lender on Wednesday from taking new customers online and issuing fresh credit cards with immediate effect. According to reliable sources, Chief Executive Officer and MD Ashok Vaswani has in a letter to Kotak Mahindra Bank employees attempted to allay their fears over the stringent action taken by the RBI against the bank. He has assured them that management would work on the issues raised in the RBI investigation so that they are resolved soon. Vaswani, who succeeded Uday Kotak as the CEO recently, also mentions in the letter that the explosive growth in business through digital channels

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