India's central bank on Wednesday lifted restrictions on Kotak Mahindra Bank that had barred the lender from taking on new customers via its online and mobile banking channels and from issuing new credit cards.

Reserve Bank of India has removed restrictions on Kotak Mahindra Bank, enabling the bank to restart its credit card offerings and onboard new customers via digital platforms.

Kotak Mahindra Bank share price today. The stock was up 10 per cent at Rs 2,137.60 on BSE in the pre-open trade, The resumption of digital onboarding of customers may aid in acquisition of savings accounts and cross-sell of products.

The Reserve Bank of India said on Wednesday that it had lifted its 10-month-old order barring Kotak Mahindra Bank from onboarding new clients digitally and issuing fresh credit cards due to gaps in its IT infrastructure.

Kotak Mahindra Bank’s share price rose 2.25% to an intra-day high of Rs 1,987.70 after the Reserve Bank of India lifted restrictions on the private lender, enabling it to onboard new customers via online channels.

The Reserve Bank of India has lifted supervisory restrictions on Kotak Mahindra Bank, allowing it to resume customer onboarding and credit card issuance. KMB is the best performer on the Bank Nifty in 2025,