IIFL Finance share jumped more than 11% in morning trade after the Reserve Bank of India (RBI) lifted the restrictions imposed on its gold loan business, effective immediately. The restrictions, which were originally imposed on March 4, 2024, prohibited the firm from sanctioning, disbursing, or assigning/securitising/selling any of its gold loans.
In the exchange filing, the company stated that the RBI’s decision permits them to completely resume their gold loan operations in compliance with all relevant regulations. IIFL Finance highlighted its commitment to maintaining high compliance standards and taking remedial actions.
As of 9:15 am, IIFL Finance shares were trading 11.03% higher at Rs 550.65 on the NSE.
