There has been a 3.94% decrease in the stocks of IIFL Finance Limited in the National Stock Exchange.Following its recent regulatory measures against Paytm Payments Bank Limited ( PPBL ), the Reserve Bank of India ( RBI ) has taken further action, this time targeting India Infoline Finance Limited (IIFL Finance). The apex bank has barred IIFL Finance from granting gold loans and engaging in related sales activities.In exercising its authority under Section 45L(1)(b) of the Reserve Bank of India Act, 1934, the RBI has directed IIFL Finance Ltd. to immediately halt all processes associated with sanctioning or disbursing gold loans, as well as any actions involving the assignment,…
Read More…
RBI Takes Regulatory Action Against IIFL Finance Ltd., Prohibits Gold Loan Sanctions and Sales
