RBI bars IIFL Finance from sanctioning, disbursing gold loans
Monday, 4 March 2024 The Reserve Bank on Monday barred IIFL Finance with immediate effect from sanctioning or disbursing gold loans after certain material supervisory concerns were observed in its gold loan portfolio. IIFL Finance can, however, continue to service its existing gold loan portfolio through the usual collection and recovery processes, the RBI said in a statement.
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RBI on Monday ordered IIFL Finance to "cease and desist" from sanctioning or disbursing gold loans with immediate effect citing multiple "regulatory violations".... IndiaTimes
Monday, 4 March 2024
