Working on a different level of tech: Kotak Mahindra on RBI action

After RBI barred Kotak Mahindra Bank from onboarding new customers online and issuing fresh credit cards, CEO Ashok Vaswani said the bank is working on a "completely different level of technology" to support its "explosive growth in business through digital channels". In a letter to employees, he added, "We will resolve all issues raised by RBI in short order."