 "RBI Lifts Restrictions On The Gold Loan Business Of IIFL Finance Limited")
New Delhi: IIFL Finance Limited has informed the stock exchange that RBI has lifted restrictions imposed on the gold loan business of the company.
"Pursuant to Regulation 30 and 51 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (Listing Regulations), we wish to inform you that 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 Limited," the company said in a BSE filing.
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," the company said.
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