IIFL Finance share price jumped over 12% in early trade on Friday after the Reserve Bank of India (RBI) lifted the restrictions imposed on its gold loan business. IIFL Finance shares surged as much as 12.33% to a high of ₹555.25 apiece on the BSE.
The banking regulator RBI has lifted the restrictions imposed on the gold loan business of IIFL Finance, the company said in a regulatory filing.
“These restrictions were earlier imposed on March 04, 2024, which prohibited the Company from sanctioning, disbursing, or assigning/securitising/selling any of its gold loans. The RBI’s decision is effective immediately and allows the Company to resume the sanctioning, disbursal, assignment, securitization, and sale of gold loans in compliance with all relevant laws and regulations,” the BSE filing said.
The company is committed to upholding the highest standards of compliance and will continue to ensure that the remedial actions taken are sustained, it added.
At 9:25 am, IIFL Finance shares were trading 11.27% higher at ₹550.00 apiece on the BSE.
