Latest News | RBI Lifts Restrictions on IIFL Finance's Gold Loan Biz
Get latest articles and stories on Latest News at LatestLY. IIFL Finance on Thursday said RBI has lifted the restrictions imposed on its gold loan business.
New Delhi, Sep 19 (PTI) IIFL Finance on Thursday said RBI has lifted the restrictions imposed on its gold loan business.
These restrictions were imposed on March 4, 2024, which prohibited the company from sanctioning, disbursing, or assigning/ securitising/ selling any of its gold loans.
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"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.
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.
Shares of IIFL Finance settled 5.75 per cent lower at Rs 498.40 apiece on the BSE.
(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)