RBI bars JM Financial Products from share and bond funding due to regulatory lapses, company has refuted regulators claims
The RBI statement directed JM Financial Products 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 debentures.” JM Financial have strongly denied claims of lapses and violation made by the regulator.
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