Kotak Mahindra Bank controversies
Controversies tied to this brand in public sources. A listing is not a finding of fault.
Back to profile2 entries
2026
Reported discrepancy involving Panchkula municipal fixed deposits
Reference material reports that, during a broader investigation into alleged fraud involving Haryana government accounts, officials identified a discrepancy at the bank's Sector-11 Panchkula branch concerning Panchkula Municipal Corporation fixed deposits. The reported discrepancy involved ₹150 crore, including a ₹58 crore deposit that the bank reportedly said did not exist.
2024
RBI action over information-technology deficiencies
In April 2024, the Reserve Bank of India barred Kotak Mahindra Bank from onboarding new customers through mobile-banking and online channels and from issuing new credit cards. The regulator cited deficiencies in the bank's IT systems. Existing customers were not subject to the same prohibition.