Have achieved full compliance with RBI requirements: IIFL Fin’s AK Purwar

IIFL Finance, which faces regulatory restrictions on gold lending, could see a 25 to 30 percent impact on business in the coming quarters. A K Purwarchairman and independent director, said in an email interview Manojit Saha. Edited excerpts:

The Reserve Bank of India (RBI) has highlighted several violations of norms and asked IIFL Finance to stop sanctions and disbursements on gold loans. What steps will the administration take to address these gaps, and how long will it take to address them?

The RBI conducts regular inspections as part of its supervisory role. It recently identified some gaps in the legislation