Ashneer Grover mocks Kotak Mahindra Bank: ‘LOL! Banks se tech nahi ho rahi’
Ashneer Grover's tweet against Kotak Mahindra Bank comes after RBI said that the bank's IT system has been facing issues in the past two years.
Ashneer Grover made a snide remark at Kotak Mahindra Bank after the lender's share prices dropped 10%. The Reserve Bank of India's (RBI) ordered the bank to stop adding new customers through its online platforms and halt issuing new credit cards which resulted in the fall in share prices. RBI said that the bank's IT system has been facing issues in the past two years.
Ashneer Grover posted on X (formerly Twitter) along with an article on Kotak Mahindra Bank's drop in share prices: “LOL ! Irony: Banks se Tech nahi ho rahi. Fintech se Banking nahi ho rahi (banks can't manage tech; Fintech can't manage banking)."
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Several users responded to Ashneer Grover’s tweet. One wrote, “This RBI will make sure to do the "Bedagarak" of the tech fusion, they are still latched to the same LaLa Ji Style banking technique... Old rules don't go well with tech and tech doesn't go easy on the rotten old mindset leaders who are absolutely unwilling for a change.. But globally Digital India ke naare buland hai."
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Another quipped, “Aap Dream11 pe team bana lijiye phir," wrote another. “mujhse padhai nahi ho rhi."
A third user commented, “after grand success of destroying shareholder value in Paytm, Hdfc bank, IIfl finance, Jm financial, here comes another victim of RBI-- Kotak mahindra bank."
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Ashneer Grover sent a legal notice to Uday Kotak, the managing director and CEO of Kotak Mahindra Bank, and his team in October 2021 as he accused the bank of not providing help with funding and share allocation for the Nykaa IPO.
