Kotak Mahindra Bank shares fall 10% after RBI's action

Shares of Kotak Mahindra Bank fell around 10% on Thursday after RBI barred the bank from onboarding new customers online and issuing fresh credit cards. Its shares opened at around ₹1,675, down from the previous close of ₹1,843. The RBI said action was taken due to "significant concerns arising out of IT Examination for 2022 and 2023".