The company has formed a team to implement corrective actions and revise policies and procedures, IIFL Finance added in a statement.
In early March this year, RBI directed the company to stop sanctioning or disbursing new gold loans or assigning, securitising, or selling any of its gold loans.
Explaining the rationale behind this move, RBI had indicated that certain "material supervisory concerns" were observed in the company's gold loan portfolio.
Serious deviations in assaying and certifying purity and net weight of the gold at the time of sanction of loans were also observed.
The regulator initiated a special audit by an independent professional agency, which commenced on April 23, 2024, which has concluded.
Denne historien er fra June 17, 2024-utgaven av The Business Guardian.
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Denne historien er fra June 17, 2024-utgaven av The Business Guardian.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent? Logg på
CLEANLINESS DRIVE: OVER 75K VOLUNTEERS PARTICIPATE
In a significant boost to the nationwide Jan Andolan for Swachhata fortnight, over 75,000 volunteers joined Reliance's campaign at 4,100 locations to make a strong statement #WeCare4Swachhata.
GAIL, AM Green to set up renewable energy projects
PUNE GAIL (India) Limited has partnered with AM Green B.V. (AMG) to set up solar and wind hybrid renewable energy projects of up to 2.5GW in India, the state owened PSU said in a statement.
iSprout expands its footprint in Hyderabad
iSprout, one of the leading organizations in the managed office space industry further expanded its presence in Hyderabad by leasing an additional 1 million sq.ft. of premium workspace in SAS iTower, iSprout Tower at Minaas and Trendset Jayabheri Connect.
ARIS MAKES ITS DEBUT, BEGINNING AN ERA OF TRANSFORMATION IN ACADEMIC LANDSCAPE
The Association for Reinventing School Education (ARISE) makes its official debut in its new avatar, marking the outset of a new epoch and setting unprecedented benchmarks to facilitate transformation in the modern educational landscape.
Tech Mahindra sets up SMART Academy
Tech Mahindra Foundation, in collaboration with the Centre for Innovation and Entrepreneurship (CIE), Jamia Millia Islamia (JMI) and AT&T Global Network Services India Pvt.
Adani Group, Google join forces to advance clean energy goals
The Adani Group and Google announced a collaboration today aimed at advancing sustainability goals and boosting clean energy in India.
SC dismisses review petitions on taxation of mines
The Supreme Court has dismissed petitions seeking a review of its landmark 9-judge bench judgment, which affirmed that states possess the authority to levy taxes on mineral-bearing lands and clarified that royalties on extracted minerals do not constitute a tax.
COURT PLACES ASHISH PANDEY IN CBI CUSTODY
A court in Kolkata has recently placed Sandip Ghosh, the former principal of RG Kar Medical College and Hospital, and suspended police officer Abhijit Mondal in 14-days of judicial custody.
CJI reminds lawyer he's 'still in charge'
Chief Justice of India (CJI) DY Chandrachud, who is set to retire in November, reminded a lawyer on Thursday that he is \"still in charge\" despite his short remaining tenure.
KARNATAKA HC STAYS VERDICT CLASSIFYING OLA DRIVERS AS EMPLOYEES
The Karnataka High Court has temporarily stayed a ruling that classified the relationship between ANI Technologies Private Limited (Ola) and its drivers as that of employer-employee.
