RBI Bars Non-Bank Finance Company From Offering Gold Loans
RBI has been engaging with IIFL Finance’s senior management and auditors (Representational) The Reserve Bank of India on Monday ordered non-bank finance company IIFL Finance to stop sanctioning, disbursing and selling gold loans with immediate effect, citing “material supervisory concerns” in its gold loan portfolio. There were “serious deviations” in assessing the gold taken as…
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