The Reserve Bank of India (RBI) has lifted the restrictions on IIFL Finance’s gold loan business as of September 19, 2024.
The move allows IIFL Finance to resume offering, disbursing, and managing gold loans in accordance with regulations. These restrictions, imposed on March 4, 2024, had significantly impacted the company's operations and led to a 35% drop in their gold loan book. IIFL Finance's shares closed 6% lower at Rs 497 on the NSE following the announcement.