RBI Lifts Restrictions on IIFL Finance's 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.

"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.