IIFL Finance Q4 profit falls 6% to ₹431 crore, RBI bars gold loans due to supervisory concerns.
IIFL Finance Q4 profit falls 6% to ₹431 crore; RBI bars gold loans due to supervisory concerns. IIFL Finance Ltd's net profit for Q4FY24 declined by 6% YoY to Rs 430.6 crore due to higher provisions and losses from fair value changes. The RBI barred the company from disbursing gold loans, citing serious deviations in assaying and certifying gold purity. IIFL Finance has addressed the concerns and formed a team to implement corrective actions.
June 16, 2024
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