IIFL Finance gets RBI approval to open branches in Jammu & Kashmir

IIFL Finance has received crucial approval from the Reserve Bank of India (RBI) to establish and expand its branch network across the Union Territory of Jammu & Kashmir. This strategic move aims to extend essential financial, advisory, and credit services to the unbanked and under-banked populations in the region, where access to formal credit has historically been limited. Nirmal Jain, founder and MD of IIFL Finance, emphasized the company’s long-standing commitment to financial inclusion, noting the timely nature of this approval given disruptions to local livelihoods. IIFL Finance plans to offer credit solutions tailored to regional needs, supporting small businesses and households. This expansion complements IIFL Foundation’s decade-long CSR activities in Kashmir, focusing on education, skill development, healthcare, and community empowerment.