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Reserve Bank lifts ban on IIFL Finance's gold loan business
India's IIFL Finance jumps 13% after cenbank lifts gold loan ban
By Dimpal Gulwani and Siddhi Nayak BENGALURU/MUMBAI (Reuters) -Shares of India's IIFL Finance surged 13% on Friday, after the country's central bank revoked an earlier ban on the non-bank lender's gold loan business.
IIFL Finance to make slow growth in gold loan after RBI lifts curbs; profitability may be hit: Brokerages
The regulator had on September 19 lifted restrictions on the gold loan lender. This would allow the lender to restart its gold loan operations but brokerages expect that the lender would look at growing slowly as it will look at keeping all the compliance measures in check.
RBI lifts restriction on gold loan business of IIFL Finance
Reserve Bank of India on September 19 allowed non-banking finance company (NBFC) IIFL Finance to offer gold loans after barring it from the same in March this year due to serious violation of norms.
RBI removes restrictions on IIFL Finance’s gold loan operations
The Company is committed to upholding the highest standards of compliance and will continue to ensure that the remedial actions taken are sustained,’ added IIFL Finance.
RBI lifts restrictions imposed on IIFL Finance's gold loan business
Reserve Bank of India on September 19 lifted restrictions imposed on IIFL Finance Ltd's gold loan business. "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," said IIFL Finance.
RBI lifts six-month ban on IIFL Finance’s gold loan operations
The ban earlier this year was a response to certain compliance issues flagged by the RBI, aimed at ensuring that IIFL Finance aligned with regulatory standards.
IIFL Finance share price jumps over 12% as RBI lifts restrictions on gold loan business
RBI had barred IIFL Finance from disbursing gold loans citing supervisory concerns in March 2024. RBI now lifting its restrictions comes as a removal of a key overhang on IIFL Finance.
IIFL Finance shares surge 11% as RBI lifts curbs on gold loan biz
The RBI's decision will allow the company to resume the sanctioning, disbursal, assignment, securitisation, and sale of gold loans, says the NBFC
India's IIFL Finance jumps 13% after cenbank lifts curb on gold loan business
Shares in India's IIFL Finance jumped about 13% on Friday, after the country's central bank lifted restrictions on the non-banking financial company's gold loan business, removing a key overhang on its financials and stock.
RBI lifts restrictions on IIFL gold loan business
The restrictions imposed by the central bank had prohibited the company from sanctioning, disbursing, or selling any of its gold loans.
IIFL Finance Shares Surge 13% As RBI Lifts Six-Month Ban On Gold Loan Business
IIFL Finance Limited shares on Friday (September 20) experiences a sharp increase in its stock price. This surge in stock prices was in response to a major announcement from the Reserve Bank of India (RBI).
Bloomberg L.P.
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Gold Loan Interest Rates In September 2024
A
loan
taken against
gold
is a secured
loan
, and the interest rate is applied when the equated monthly installment (EMI) begins. Loans taken against
gold
as collateral offer a low lending rate ...
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