₹30,000 crore wiped off Kotak Mahindra Bank's m-cap after RBI action

Kotak Mahindra Bank lost ₹30,000 crore in market capitalisation on Thursday as its shares fell 10% following RBI's action against the bank. With the drop in m-cap, Axis Bank dethroned Kotak Mahindra Bank as India's fourth largest bank by m-cap at ₹3.43 lakh crore. The RBI on Wednesday barred Kotak from onboarding new customers online and issuing fresh credit cards.