Jm financial share view violation regulatory guidelines

Jm financial share view violation regulatory guidelines

JM Financial Products is no longer allowed to provide loans against shares and debentures as per the Reserve Bank of India (RBI) directives.

JM Financial conducted a detailed review of the RBI order and believes there are no significant issues with its loan approval process.

The company asserts that it has not violated any regulations and has no governance problems, conducting its business in a genuine manner.

JM Financial will continue serving existing customers following RBI guidance.

The company has been funding IPOs for over two decades, and its IPO financing product is short-term and self-liquidating.

The practice of taking a Power of Attorney (POA) in IPO funding is legal and a common industry practice.

JM Financial will cooperate fully with the RBI's special audit initiative to explain its position.