इन दिनों Reserve Bank काफी सख्त होता दिख रहा है. पिछले ही दिनों आपने देखा है कि किस तरह से RBI ने Paytm Payments Bank पर एक्शन लिया था. अब RBI ने एक नया आदेश जारी किया है. ये आदेश Gold Loan को लेकर जारी किया गया है. रिजर्व बैंक ऑफ इंडिया ने IIFL Finance पर तगड़ी कार्रवाई की है.
RBI on Monday, 4/03/2024 Bans IIFL Finance from sanctioning fresh gold loans due regulatory issues and serious deviations related to purity.
#goldloan #iiflfinance #rbi
~HT.99~PR.147~ED.148~
RBI on Monday, 4/03/2024 Bans IIFL Finance from sanctioning fresh gold loans due regulatory issues and serious deviations related to purity.
#goldloan #iiflfinance #rbi
~HT.99~PR.147~ED.148~
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NewsTranscript
00:00 These days, Reserve Bank seems to be very strict.
00:03 In the last few days, you saw how RBI took action on PTM.
00:07 Now, RBI has issued a new order.
00:10 This order is issued regarding Gold Loan.
00:12 Let's understand in detail.
00:14 Reserve Bank of India has taken the latest action
00:16 and has carried out a strong operation on IIFL Finance.
00:19 RBI has imposed a ban on distributing gold loans on IIFL Finance.
00:23 Central Bank has carried out this operation
00:25 due to material supervisory concerns.
00:28 However, the company will continue to provide services
00:31 to its existing gold loan portfolio.
00:33 RBI has said that after a special audit,
00:35 if there are satisfactory results,
00:38 IIFL Finance can be given relief.
00:41 After PTM Payments Bank,
00:43 this is the second major RBI action in a month.
00:46 So, let's understand the meaning of this decision of RBI.
00:49 IIFL Finance has been asked to stop gold loan work
00:52 from the immediate effect.
00:54 Which means IIFL Finance cannot sanction any new gold loan.
00:59 It cannot disburse any new gold loan.
01:02 If there is a new application,
01:04 it cannot be approved.
01:06 And if it has been approved,
01:08 it cannot be given a new loan.
01:10 The old loans that are in circulation,
01:11 can be discontinued.
01:14 Now, let's understand why the decision to stop was taken.
01:18 RBI has taken this action under Reserve Bank of India Act 1934.
01:24 According to RBI,
01:25 on 31st March 2023,
01:27 during the financial health check of the company,
01:30 there were signs of irregularities in gold loan.
01:32 During the gold loan distribution and auction,
01:35 the company was not able to make a proper report
01:37 on gold purity and weight.
01:40 Also, the loan to value ratio was being violated.
01:44 According to RBI,
01:45 during the distribution and recovery of IIFL Finance,
01:49 more cash was being used than the rules.
01:52 Apart from this, there was no transparency
01:54 regarding the tax on the customers.
01:57 In all these ways,
01:58 the interest of the customers of IIFL Finance was being affected.
02:01 For the past few months,
02:02 RBI was working with the company's officials
02:05 to try to remove these shortcomings.
02:08 But due to the improvement,
02:09 the central bank had to take this tough step
02:11 when the situation did not improve.
02:13 If this had not been done,
02:15 it could have had a bad impact on the customers.
02:18 Well, if we talk about IIFL Finance,
02:20 the company is one of the leading companies
02:22 in the financial service sector.
02:24 It provides loan services to its subsidiary companies
02:26 IIFL Home Finance,
02:28 IIFL Samast Finance Limited,
02:31 and IIFL Open FinTech.
02:37 It has more than 2,600 branches in more than 500 cities.
02:42 The loan business of IIFL is of Rs. 77,444 crores.
02:47 In which 32% is of gold loan.
02:50 According to this, gold loan is included
02:52 in the top NBFC of the country.
02:55 Its gold loan portfolio is of Rs. 24,692 crores.
03:00 If we talk about the shares,
03:02 the impact of RBI's action is exactly the same
03:05 as seen on the IIFL Finance share.
03:08 As on 1st February, after the ban,
03:10 the parent company of Paytm
03:12 was seen on the stocks of 197 Communication.
03:17 The day after the RBI issued the order,
03:20 Paytm's share was broken by 20%.
03:23 Now, the IIFL share is also seen
03:25 to be in a bad shape on Tuesday.
03:27 With the share market opening,
03:29 the company's share was hit by a lower circuit.
03:31 And it slipped by 19.99%
03:34 and has come to the level of Rs. 477.75.
03:38 That's all for the video.
03:39 What is your opinion on this?
03:41 Do tell us by commenting.
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03:50 (upbeat music)