RBI lifts restrictions on JM Financial Products

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The Reserve Bank of India has lifted the restrictions imposed on JM Financial Products (JMPL) with immediate effect.

In March, the RBI had directed JMFPL to cease and desist, with immediate effect, from doing any form of financing against shares and debentures, including sanction and disbursal of loans against Initial public offering (IPO) of shares as well as against subscription to non-convertible debentures (NCDs).

The company, on Friday, said that it is now permitted to provide, with immediate effect, the financing against shares and debentures in compliance with all applicable laws and regulations.