Latest News | IIFL Finance Shares Surge over 13 Pc as RBI Lifts Restrictions on Gold Loan Biz

New Delhi, Sep 20 (PTI) Shares of IIFL Finance on Friday jumped over 13 per cent after the firm said RBI has lifted the restrictions imposed on its gold loan business.

The stock surged 13.39 per cent to Rs 560.50 on the BSE.

Also Read | Shillong Teer Results Today, September 20 2024: Winning Numbers, Result Chart for Shillong Morning Teer, Shillong Night Teer, Khanapara Teer, Juwai Teer and Jowai Ladrymbai.

At the NSE, shares of the firm soared 13 per cent to Rs 560.60.

These restrictions were imposed on March 4, 2024, which prohibited the company from sanctioning, disbursing, or assigning/ securitising/ selling any of its gold loans.

Also Read | Kolkata Fatafat Result Today: Kolkata FF Result for September 20, 2024 Declared, Check Winning Numbers and Result Chart of Satta Matka-Type Lottery Game.

"The 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 Ltd," IIFL Finance said in a regulatory filing on Thursday.

The RBI's decision is effective immediately and allows the company to resume the sanctioning, disbursal, assignment, securitisation, 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," IIFL Finance said.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)