SOURCE OF INFORMATION : RESERVE BANK OF INDIA WEBSITE & NEWSPAPERS
PERIOD COVERED : 01-AUG-1996 TO 13-JUL-2024

NBFC: DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES ON LOAN TO VALUE (LTV) RATIO PERTAINING TO GOLD LOANS

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S.No.	ENTITY	PERSONS	REGULATORY CHARGES	REGULATORY ACTION(S) / DATE OF ORDER	FURTHER DEVELOPMENTS
1	IIFL FINANCE LTD.		DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES ON LOAN TO VALUE (LTV) RATIO PERTAINING TO GOLD LOANS OBSERVED CERTAIN MATERIAL SUPERVISORY CONCERNS IN THE GOLD LOAN PORTFOLIO, DID NOT ADHERE TO STANDARD AUCTION PROCESS AND LACK OF TRANSPARENCY IN CHARGES BEING LEVIED TO CUSTOMER ACCOUNTS	CEASED AND DESIST FROM SANCTIONING OR DISBURSING GOLD LOANS OR ASSIGNING/SECURITISING/SELLING ANY OF GOLD LOAN 04-MAR-2024
The regulatory charges/regulatory actions may be fully or partly applicable to the entities/persons mentioned in the second column.