News | IIFL Finance Receives RBI Approval to Establish Branches in Jammu & Kashmir

IIFL Finance Receives RBI Approval to Establish Branches in Jammu & Kashmir

News

26 May 2025

2 min read

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IIFL Finance, a prominent non-banking financial company (NBFC), has secured regulatory approval from the Reserve Bank of India (RBI) to open new branches in the Union Territory of Jammu & Kashmir. This strategic move aims to enhance financial inclusion by providing essential credit and advisory services to underserved and unbanked communities in the region.

The company emphasized that this expansion is timely, addressing the financial needs of areas where access to formal credit has historically been limited. By offering tailored credit solutions, IIFL Finance intends to support the revival of small businesses and assist households facing livelihood disruptions.

Founder and Managing Director Nirmal Jain stated, "The management decision to commence operations in Jammu & Kashmir reflects our long-standing commitment to bringing financial access to unserved and underserved communities. The approval to open branches comes at a critical time when people in the region have been facing disruptions in their livelihoods."

IIFL's presence in Jammu & Kashmir complements its Corporate Social Responsibility (CSR) initiatives in the state, including ongoing programs in Kupwara, Baramulla, Srinagar, and other areas focusing on education, skill development, healthcare, and community empowerment.

This development aligns with broader efforts to strengthen the financial infrastructure in Jammu & Kashmir, fostering economic growth and stability in the region.

Reference: ETBFSI