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RBI Bans IIFL Finance Gold Business: After Paytm Payments Bank, now the Reserve Bank of India (RBI) has banned the business of another company.
After Paytm Payments Bank, now the Reserve Bank of India (RBI) has taken major action against another company. See which company this is.
The Reserve Bank of India (RBI) has banned IIFL FINANCE on March 4. This big announcement has been made after the stock market closed. The central bank has banned IIFL FINANCE from giving gold loans. This ban has been imposed on gold loan distribution.
The company can also do business apart from gold loan portfolio. Actually, rules have been violated in the gold loan portfolio of the company. Supervisory irregularities have been found in the portfolio. Rules have been violated in loan-to-value ratio. There will be a special audit of the company's functioning. The restrictions imposed will be reviewed after the audit.
Today the share price of IIFL FINANCE fell by 3.94 percent and closed at Rs 598. This stock has fallen 1.51 percent in the last 5 days.
It is known that the share of IIFL Finance has increased by 0.67 percent in the last one month and 31.75 percent in one year. The market cap of the company is Rs 22,816.50 crore.