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The Reserve Bank of India has lifted the restrictions on IIFL Finance's gold loan business, allowing the company to resume operations. The ban, imposed in March due to supervisory concerns, had led to a significant decline in IIFL's gold loan book and profits. The company can now comply with all relevant laws and regulations.
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News and Media
Stocks in news: Domestic markets remained almost unchanged in a volatile session. Reliance Infra plans to raise Rs 3,014 crore, NTPC approves Rs 9,701 crore investment, and SBI extends $50 million support to Maldives. RBI re-appoints V Vaidyanathan as IDFC First Bank CEO. Vodafone Idea faces scrutiny after a significant stock fall.
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Wall Street traders are optimistic about the Federal Reserve's ability to achieve a soft landing, leading to a rally in riskier markets. The S&P 500 hit its 39th record high in 2024, with tech stocks leading gains. The Fed's recent rate cut has bolstered hopes of avoiding a recession.
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