IIFL Finance starts special audit

Mumbai: IIFL Finance commenced the special audit directed by the Reserve Bank of India (RBI) on Tuesday. This follows the central bank's embargo dated March 4, 2024, which suspended the disbursement of new gold loans by our company until the satisfactory completion of the said audit, said the company in an exchange filing.

The embargo was part of RBI's supervisory action over concerns related to certain loan disbursement practices.