RBI fines IIFL Finance INR 310,000 for breach of repayment norms
This story was originally published at 18:27 IST on 15 May 2026
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MUMBAI – The Reserve Bank of India Monday imposed a monetary penalty of INR 310,000 on IIFL Finance Ltd. after the company failed to pay the surplus amount realised from the auction of pledged gold articles, over and above the loan outstanding, to certain borrowers, the banking regulator said in a press release Friday.
The RBI had conducted a statutory inspection of the company with reference to its financial position as on Mar. 31, 2025, it said. Based on the supervisory findings, it had issued a notice to the company advising it to show cause as to why the penalty should not be imposed. However, the RBI did not find the company's reply to the notice and oral submissions made during the personal hearing satisfactory, and sustained the charges of non-compliance.
For the March quarter, IIFL Finance reported a consolidated profit of INR 5.87 billion on revenue of INR 36.93 billion. On Friday, shares of the company closed at INR 464.85 apiece on the National Stock Exchange. End
Reported by Diksha Tripathy
Edited by Avishek Dutta
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