RBI Directs ‘IIFL Finance Ltd’ to Cease and Desist from Sanctioning or Disbursing Gold Loans
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- Last Updated on 6 March, 2024
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Press Release No. 2023-2024/1994; Dated: 04.03.2024
The RBI has directed IIFL Limited (‘the company’) to cease and desist from sanctioning or disbursing gold loans or assigning/securitizing/selling any of its gold loans. However, the company can continue to service its existing gold loan portfolio through the usual collection and recovery processes. This directive is effective immediately. Further, this business restriction is without prejudice to any other regulatory or supervisory action that may be initiated by the RBI against the company.
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