Manappuram Finance

Is the coast clear for IIFL Finance?

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Is the coast clear for IIFL Finance?

Investors in IIFL Finance Ltd have found some relief following the completion of the Reserve Bank of India’s (RBI) special audit. However, the damage to the company’s Q4FY24 earnings and brand image has already been done.  The RBI had observed several regulatory breaches in IIFL’s gold loan portfolio, which comprised 30% of its consolidated assets … Read more

Muthoot, Manappuram Finance fall over 8% on RBI’s advisory on cash disbursal; here’s what it means for gold financiers

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Muthoot, Manappuram Finance fall over 8% on RBI's advisory on cash disbursal; here's what it means for gold financiers

Shares of gold financing companies – Muthoot Finance, and Manappuram Finance – were trading under pressure on Thursday after the Reserve Bank of India (RBI) sent the companies an advisory concerning cash disbursal of loans. The RBI has instructed Non-Banking Financial Companies (NBFCs) to strictly follow the provisions of the Income Tax Act regarding cash … Read more