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PerkyCupcake
PerkyCupcake
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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

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13mo ago
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FuzzyNoodle
FuzzyNoodle
BYJU'S13mo

Is Mota bhai planning on entering banking space?

SqueakyMuffin
SqueakyMuffin
Zomato13mo

@upscvet Zero chance. Industrialists can't own banks. Conflict of interest of the highest order. It is banned across the world.

FuzzyNoodle
FuzzyNoodle
BYJU'S13mo

Wait for regulations to change magically before Ambani ji enters banking 😂

WigglyPretzel
WigglyPretzel
HSBC13mo

Got my bank account blocked

PerkyCupcake
PerkyCupcake
Linkedin13mo

After HDFC Bank, the horrible tech of Kotak Bank has now got RBI's attention.

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Curated from across
Indian Startups
Indian Startups16mo
by SleepyMarshmallowZomato

Paytm gets a shock from RBI

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...
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Top comments
user

That stock is about to crash so fucking hard. Thank god i got out. The crappiest IPO of this decade.

user

This is eerily reminiscent of Razorpay debacle. Something similar has even happened to AmEx at some point in India. ...

user

Very bad. This was my everyday bank account for small transactions. Easy to remember account number also

Layoffs
Layoffs16mo
by GroovyMarshmallowGrowth Manager

Kotak Bank to start lay offs

Guys a friend working there told me Kotak Bank is going to cut approx 20 percent of the workforce across all departments. They have already started revoking offer letters. Also they will not be giving increments and bonuses. Tough times ...

News Discussion
News Discussion21mo
by SnoozyWalrusRazorpay

Banks looting !!!

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 ac...