India, Feb. 12 -- The Reserve Bank of India (RBI) said it has lifted restrictions on Kotak Mahindra Bank, allowing the lender to resume onboarding new customers through online channels and issuing new credit cards.

This comes after the RBI in April last year decided to cease and desist Kotak Mahindra Bank from onboarding new customers through its online and mobile banking channels. Besides, the central bank also barred it from issuing fresh credit cards.

RBI noted that the bank has taken measures to address the erstwhile flagged supervisory concerns and submitted compliances to it. RBI also underlined that the bank has undergone an external audit to validate these compliances.

In a statement conveyed today (February 12), the central ba...