The Reserve Bank of India (RBI) barred Kotak Mahindra Bank from signing up new customers through its online and mobile banking channels, and issuing fresh credit cards, among the toughest curbs imposed on a scheduled bank. The regulator said Kotak had failed to fix its IT systems after being asked to do so continuously over the past two years.
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Invesco Asset Management Company, its chief executive Saurabh Nanavati, and four others have settled a case of alleged violation of mutual fund and portfolio management services regulations with market regulator Securities and Exchange Board of India (Sebi) by paying ₹4.98 crore as settlement amount. The case relates to an inspection of mutual funds and portfolio management services.
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📌RBI barred Kotak Mahindra Bank from onboarding new customers through its online and mobile banking channels. 📌ITC said the meeting of ordinary shareholders will take place on June 6 through electronic mode. 📌FSIB has recommended Rana Ashutosh Kumar Singh for the position of Managing Director at SBI. 📌Axis Bank has reported standalone net profit of Rs 7,130 crore for the March FY24 quarter.
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