Kotak Mahindra Bank — India's second largest private sector bank by market cap — is allegedly requiring account holders to refrain from dealings in cryptocurrency. The claim was made by Twitter user “Indian CryptoGirl” (@Desicryptohodlr) in a tweet posted Jan. 8.
According to the screenshot provided in Indian CryptoGirl’s tweet, Kotak Mahindra Bank makes explicit reference to the Reserve Bank of India’s (RBI) regulations in its apparent terms and conditions for account holders, which allegedly demand consent to the following: