Kotak Mahindra Bank initiated remedial measures to address the supervisory concerns and submitted compliances to the Reserve Bank, says central bank

Kotak reported a 10% surge in its profit levels at Rs 4,701.02 crore in Q3FY25 as compared to Rs 4,264.78 crore recorded in the corresponding quarter of the previous year. The recent removal of restrictions has further boosted brokerages' outlook on the stock.

Kotak Mahindra Bank's shares rose after the RBI lifted restrictions on issuing new credit cards and opening accounts through online or mobile banking. Banks, including HSBC, JP Morgan, Morgan Stanley,

The Reserve Bank has lifted all restrictions it placed on Kotak Mahindra Bank. On April 24 last year, the RBI imposed certain business restrictions on the private lender. The bank was directed to cease and desist from onboarding new customers through its online and mobile banking channels,