Tax & Penalty21 May 2026, 04:13 pm
IIFL Finance: RBI Imposes ₹3.1 Lakh Penalty for Non-Compliance
AI Summary
IIFL Finance Limited has been penalized ₹3,10,000 by the Reserve Bank of India (RBI) for non-compliance with provisions of the ‘Master Direction- Reserve Bank of India (Non-Banking Financial Company – Scale Based Regulation) Directions, 2023’. The penalty was imposed due to deficiencies observed during the statutory inspection related to the financial position as of March 31, 2025, specifically the failure to pay surplus amounts from auctioned pledged gold articles to certain borrowers. IIFL Finance has remitted the penalty to RBI and confirmed the same.
Key Highlights
- RBI imposed a monetary penalty of ₹3,10,000 on IIFL Finance.
- Penalty due to non-compliance with NBFC regulations regarding gold loan auctions.
- The penalty relates to the financial position as of March 31, 2025.
- IIFL Finance remitted the penalty to RBI on May 16, 2026.
- Company states the penalty will not have a material impact on operations.
Price Impact
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