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IIFL Finance won't go all-out on gold loans in next financial year
Mint Mumbai
|February 17, 2026
IIFL Finance Ltd will be conservative in expanding its gold loan book in the next financial year starting 1 April, as founder Nirmal Jain flagged risks to its largest growth driver from evolving regulations after a sharp surge in the prices of the precious metal.
“..this risk is real and gold prices can be volatile. Although fundamental and structural changes now indicate that the gold prices may remain firm, we cannot take the risk,” Jain, also the promoter of the firm, said in an interview at the launch of a public bond issue. “While the requirement for credit is there, we are trying to be conservative based on the risk environment that we are in.”
Gold loans form the largest share of IIFL Finance’s standalone loan book, which has helped the non-bank lender expand its book sharply from about ₹27,508 crore at the end of FY25 to over 49,000 crore as of December.
Net quarterly growth has averaged ₹5,000-6,000 crore in the recent quarters, aided by strong demand. Its gold loan book grew twofold on-year to ₹43,432 crore.
This story is from the February 17, 2026 edition of Mint Mumbai.
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