Mumbai: Crisil Ratings has said that the Reserve Bank of India’s regulatory measures will directly impact JM Financial Products’ business in IPO financing and lending against shares, while restrictions placed on IIFL Finance will reduce its overall assets under management.
CareEdge, Crisil, and ICRA Ratings have placed IIFL Finance under rating watch following the RBI ban on giving new gold loans. Neither of the rating companies has revised the ratings of both finance companies.
The market regulator Securities and Exchange Board of India on Tuesday sought an explanation from rating agencies on what action they have taken following regulatory action by the RBI on IIFL Finance and JM Financial Products , as reported by ET on January 13.
