RBI's action may drag Kotak's profit by ₹450 crore: CEO Vaswani

Kotak Mahindra Bank CEO Ashok Vaswani said the Reserve Bank of India's (RBI) punitive action will have a "minimum" financial impact on the bank. He added its profit-before-tax (PBT) will likely be dragged down by ₹300-450 crore in FY25. RBI last month banned Kotak Mahindra Bank from onboarding new customers through its online channels and issuing fresh credit cards.