RBI lifts restriction on gold loan business of IIFL Finance Ltd

Reserve Bank of India (RBI), through its communication dated September 19, 2024, has lifted the restrictions imposed on the gold loan business of IIFL Finance Limited ("the Company"). These restrictions were earlier imposed on March 04, 2024, which prohibited the Company from sanctioning, disbursing, or assigning/securitising/selling any of its gold loans.

The RBI's decision is effective immediately and allows the Company to resume the sanctioning, disbursal, assignment, securitization, and sale of gold loans in compliance with all relevant laws and regulations.

The Company is committed to upholding the highest standards of compliance and will continue to ensure that the remedial actions taken are sustained.

Shares of IIFL Finance Limited was last trading in BSE at Rs. 494.30 as compared to the previous close of Rs. 528.80. The total number of shares traded during the day was 430103 in over 14021 trades.

The stock hit an intraday high of Rs. 533.05 and intraday low of 482.25. The net turnover during the day was Rs. 218118637.00.

Source : Equity Bulls

Keywords

IIFLFinance INE530B01024 GoldLoanBusiness RBI RestrictionsLifted