HOME| RBI lifts gold loan curbs on IIFL Finance | Writer | Admin | |||
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| MUMBAI: RBI has lifted the restrictions placed on IIFL Finance's gold loan operations, effective immediately. In a communication dated Sept 19, 2024, RBI allowed the company to resume sanctioning, disbursal, assignment, securitisation and sale of gold loans, provided all relevant laws and regulations are followed. The restrictions were initially imposed on March 4 of this year after an RBI supervision uncovered irregularities in IIFL Finance's gold loan business. These included exceeding loan limits, deviating from gold assaying and certification standards, breaching the loan-to-value ratio, and conducting excessive cash transactions. RBI had stated that these practices compromised customer interests.
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