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. Look 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 closure of the stock market. The Central Bank has banned IIFL FINANCE from giving gold loan. This ban has been imposed on gold loan disbursement.
The company can do business other than gold loan portfolio. Actually, rules have been violated in the company’s gold loan portfolio. 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 IIFL FINANCE Share Price 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 in the last one month, the share of IIFL Finance has increased by 0.67 percent and in one year it has increased by 31.75 percent. The market cap of the company is Rs 22,816.50 crore.
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