formal banking – TOH https://thetimesofhindustan.com Sat, 16 Mar 2024 07:48:11 +0000 en-US hourly 1 https://wordpress.org/?v=6.7.2 https://thetimesofhindustan.com/wp-content/uploads/2023/10/cropped-android-chrome-512x512-1-32x32.png formal banking – TOH https://thetimesofhindustan.com 32 32 Gold Loan Customers Assured by IIFL Finance, Deposited Gold Secure in Lockers. https://thetimesofhindustan.com/gold-loan-customers-assured-by-iifl-finance-deposited-gold-secure-in-lockers/ https://thetimesofhindustan.com/gold-loan-customers-assured-by-iifl-finance-deposited-gold-secure-in-lockers/#respond Sat, 16 Mar 2024 07:48:09 +0000 https://thetimesofhindustan.com/?p=2399 Noida : IIFL Finance reassured today that it remains dedicated to serving its existing gold loan clientele without any disruptions, emphasizing the safety of customers’ gold holdings stored in the company’s secure lockers.In light of a recent RBI supervisory press release dated March 4, new gold loan disbursements by the company are temporarily halted until further notice. However, IIFL Finance is permitted by the RBI circular to continue servicing existing loans and customers without impediments.

IIFL Finance said, “We would like to further reassure you that your loan is completely safe with us and you have no reason to worry.”

“These are operational issues and we are fully committed to comply with all the guidance of RBI. We appreciate your support and trust in us. There are no ethical or governance issues with IIFL Finance.”

The company affirmed that its gold loan branches will maintain regular operations, with staff readily available to address the immediate needs of existing customers. IIFL Finance urged its gold loan patrons to exercise caution against misinformation or rumors from any unreliable sources.Spanning across 25 states and Union Territories in India, IIFL Finance’s gold loan division comprises 2,721 branches, serving over 19 lakh unbanked and underbanked small entrepreneurs primarily located in rural and semi-urban areas, bridging the gap in formal banking accessibility.

Furthermore, all other business verticals of IIFL Finance, including home loans, microfinance, and business loans, continue to function seamlessly. With loan assets under management totaling approximately Rs 78,000 crores, IIFL Finance proudly acknowledges the pivotal role played by India’s small entrepreneurs in driving economic growth and fostering job creation through their entrepreneurial endeavors.

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