Tax & Penalty16 May 2026, 04:10 pm
IIFL Finance penalized ₹3.1 Lakh by RBI
AI Summary
IIFL Finance Ltd has been penalized ₹3.10 Lakh by the Reserve Bank of India (RBI) due to non-compliance issues identified during the RBI inspection for the financial year ending March 31, 2025. The penalty was imposed under Section 58G(1)(b) read with section 58B(5)(aa) of the RBI Act, 1934. The violation pertains to the failure to pay the surplus amount from pledged gold auctions to certain borrowers. IIFL Finance states that the penalty will not have a material impact on the company's financial or operational activities.
Key Highlights
- RBI imposed a penalty of ₹3.10 Lakh on IIFL Finance.
- The penalty is due to violations found during the RBI inspection for FY25.
- Violation relates to surplus amounts from gold auctions not paid to borrowers.
- IIFL Finance states the penalty has no material financial impact.
Price Impact
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