{"id":94713,"date":"2024-07-15T07:12:19","date_gmt":"2024-07-15T07:12:19","guid":{"rendered":"https:\/\/news.talkwithrattan.com\/index.php\/2024\/07\/15\/kotak-bank-ceo-admits-to-inadequate-tech-investments-mumbai-news-times-of-india\/"},"modified":"2024-07-15T07:12:19","modified_gmt":"2024-07-15T07:12:19","slug":"kotak-bank-ceo-admits-to-inadequate-tech-investments-mumbai-news-times-of-india","status":"publish","type":"post","link":"https:\/\/news.talkwithrattan.com\/index.php\/2024\/07\/15\/kotak-bank-ceo-admits-to-inadequate-tech-investments-mumbai-news-times-of-india\/","title":{"rendered":"Kotak Bank CEO admits to inadequate tech investments | Mumbai News &#8211; Times of India"},"content":{"rendered":"<div style=\"text-align:center\"><img loading=\"lazy\" decoding=\"async\" width=\"1280\" height=\"720\" src=\"https:\/\/i2.wp.com\/static.toiimg.com\/photo\/msid-111741643,imgsize-488073.cms?fit=1280,720&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"Kotak Bank CEO admits to inadequate tech investments | Mumbai News &#8211; Times of India\" title=\"Kotak Bank CEO admits to inadequate tech investments | Mumbai News &#8211; Times of India\" \/><\/div>\n<div>MUMBAI: <!-- -->Kotak Bank<!-- --> MD &amp; CEO <!-- -->Ashok Vaswani<!-- --> has admitted that investments in <a href=\"https:\/\/www.speakingtree.in\/topics\/universe\/technology\" styleobj=\"[object Object]\" class=\"\" rel=\"noopener nofollow noreferrer\" target=\"\" frmappuse=\"1\">technology<\/a> were inadequate, saying it will be ramped up. He also said that the bank is fully aligned with the regulator.<br \/>In a letter to shareholders, Vaswani said, \u201cWe had significantly stepped up resources and investments in technology. However, it is evident that we have more to do.\u201d <br \/> RBI had pulled up Kotak Bank and placed business restrictions after finding that its IT systems were not up to the mark. <br \/> Vaswani said, \u201cthe regulator wants us to take care of our customers and do that in a prudent manner&#8230; That is exactly what the management team seeks to do. Hence, there is no ray of light between the regulators and the team.\u201d <br \/> Kotak Bank had a disagreement with RBI when the regulator refused to accept the issuance of preference shares as dilution of capital. <\/p>\n<p>We also published the following articles recently<\/p>\n<p><\/p>\n<div data-type=\"in_view\" class=\"XVY2D  \"><a href=\"https:\/\/timesofindia.indiatimes.com\/city\/goa\/new-booze-regulations-at-vasco-saptah\/articleshow\/111698033.cms\" frmappuse=\"1\"><strong>New booze regulations at Vasco Saptah<\/strong><\/a><br \/><span>Learn about the 125th Vasco Saptah celebration ban on late-night liquor sales in the municipal area. Police monitoring and FDA inspections for food stalls ensure compliance. Violations may result in license cancellation and blacklisting of stall owners. Find out more!<\/span><\/div>\n<div data-type=\"in_view\" class=\"XVY2D  \"><a href=\"https:\/\/timesofindia.indiatimes.com\/india\/cic-has-powers-to-constitute-benches-frame-regulations-says-sc\/articleshow\/111710262.cms\" frmappuse=\"1\"><strong>CIC has powers to constitute benches, frame regulations, says SC<\/strong><\/a><br \/><span>Supreme Court emphasizes autonomy of Central Information Commission in framing regulations and constituting benches. Upheld powers under RTI Act section 12(4) for effective functioning. Court&#8217;s judgement overturns 2010 Delhi High Court decision on CIC&#8217;s authority. Autonomy and independence vital for specialized bodies like CIC for impartial and efficient operation.<\/span><\/div>\n<\/div>\n<p><script>\nvar _mfq = window._mfq || [];\n_mfq.push([\"setVariable\", \"toi_titan\", window.location.href]);\n!(function(f, b, e, v, n, t, s) {\n    function loadFBEvents(isFBCampaignActive) {\n      if (!isFBCampaignActive) {\n        return;\n      }\n      (function(f, b, e, v, n, t, s) {\n        if (f.fbq) return;\n        n = f.fbq = function() {\n          n.callMethod ? n.callMethod(...arguments) : n.queue.push(arguments);\n        };\n        if (!f._fbq) f._fbq = n;\n        n.push = n;\n        n.loaded = !0;\n        n.version = '2.0';\n        n.queue = [];\n        t = b.createElement(e);\n        t.async = !0;\n        t.defer = !0;\n        t.src = v;\n        s = b.getElementsByTagName(e)[0];\n        s.parentNode.insertBefore(t, s);\n      })(f, b, e, 'https:\/\/connect.facebook.net\/en_US\/fbevents.js', n, t, s);\n      fbq('init', '593671331875494');\n      fbq('track', 'PageView');\n    };\n    function loadGtagEvents(isGoogleCampaignActive) {\n      if (!isGoogleCampaignActive) {\n        return;\n      }\n      var id = document.getElementById('toi-plus-google-campaign');\n      if (id) {\n        return;\n      }\n      (function(f, b, e, v, n, t, s) {\n        t = b.createElement(e);\n        t.async = !0;\n        t.defer = !0;\n        t.src = v;\n        t.id = 'toi-plus-google-campaign';\n        s = b.getElementsByTagName(e)[0];\n        s.parentNode.insertBefore(t, s);\n      })(f, b, e, 'https:\/\/www.googletagmanager.com\/gtag\/js?id=AW-877820074', n, t, s);\n    };\n    function loadSurvicateJs(allowedSurvicateSections = []){\n      const section =  window.location.pathname.split('\/')[1]\n      const isHomePageAllowed = window.location.pathname === '\/' && allowedSurvicateSections.includes('homepage')\n      if(allowedSurvicateSections.includes(section) || isHomePageAllowed){\n        (function(w) {\n         function setAttributes() {\n                    var prime_user_status = window.isPrime ? 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He also said that the bank is fully aligned with the regulator.In a letter to shareholders, Vaswani said, \u201cWe had significantly stepped up resources and investments in technology. However, it is evident that [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":94714,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"tdm_status":"","tdm_grid_status":"","fifu_image_url":"https:\/\/static.toiimg.com\/photo\/msid-111741643,imgsize-488073.cms","fifu_image_alt":"","footnotes":""},"categories":[604],"tags":[614,41883,673,355,80607,273,5087,26855,38830,352,14517,14516,14518,14519,271,2416,80606,459,272,14520],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts\/94713"}],"collection":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/comments?post=94713"}],"version-history":[{"count":1,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts\/94713\/revisions"}],"predecessor-version":[{"id":94715,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts\/94713\/revisions\/94715"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/media\/94714"}],"wp:attachment":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/media?parent=94713"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/categories?post=94713"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/tags?post=94713"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}