Axis Bank overtook Kotak Mahindra Bank as the 4th largest lender in India by market capitalization. This change comes after RBI restrictions on Kotak Mahindra Bank for onboarding new customers digitally and issuing credit cards. Following the news, Kotak Mahindra Bank‘s shares fell 10% while Axis Bank’s shares rose 5%. HDFC Bank remains the top lender with a market cap of Rs 11.5 lakh crore.
Also read – RBI Suspends Kotak Mahindra Bank’s Online Onboarding & Credit Card Issuance
