Relief For IIFL Finance As RBI Lifts Restrictions On Gold Loans Business

The RBI has decided to lift the ban on IIFL Finance's gold loans business bringing relief to the company. As a result IIFL Finance shares surged by around 8%. AK Purwar Chairman of IIFL Finance recently highlighted the significant impact of RBI restrictions on the onboarding of small borrowers. He mentioned that in the last two months the company has faced cash losses due to these restrictions. The period of RBI restrictions was described as tough and demanding leading to a halt in disbursements for gold loans above Rs 20,000. Purwar emphasized the importance of all players following RBI guidelines for a level playing field.
#rbi #reservebankofindia #iiflfinance
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