The Reserve Bank of India (RBI) has lifted the restrictions imposed on JM Financial Products Limited. The company has given this information in a notice given to the stock exchange late on Friday night. JM Financial said in a notice to the stock exchanges, "With this communication, the company is allowed to provide financing against shares and debentures with immediate effect while complying with all applicable laws and regulations.

In March, RBI had banned JM Financial Products Limited (JMFPL) from giving loans based on shares and debentures, approving and disbursing loans based on Initial Public Offering (IPO) of shares with immediate effect. RBI had said that this ban was imposed after some serious deficiencies were found in relation to the loans sanctioned by the company for IPO financing and non-convertible debenture subscription. RBI had said that this action was taken in view of some serious deficiencies in the loan process of the financial services company. More importantly, RBI emphasized that apart from violation of regulatory guidelines, there are serious concerns about governance issues in the company. Share performance Shares of JM Financial closed at Rs 159.60 on Friday with a gain of 2.34 per cent. In the last one year, the company's stock has seen a gain of 75.58 per cent.