New Delhi, April 26 -- Kotak Mahindra Bank shares have crashed almost 13 per cent since the Reserve Bank of India (RBI) barred the private-sector lender from onboarding any new customers till further notice, after finding ''serious deficiencies'' in its IT infrastructure. Kotak Mahindra Bank's market capitalisation (mcap) has shrunk to Rs.3.19 lakh crore in two days, losing its rank as India's fourth largest lender.

On the other hand, Axis Bank has overtaken Kotak Mahindra Bank to become India's fourth largest bank as its market value has risen to Rs.3.48 lakh crore after its shares jumped nearly five per cent on robust March quarter results.

Axis Bank reported a net profit of Rs.7,130 crore in the January-March quarter, compared to a l...