Which of the following are the provisions of SARFAESI Act which enables banks to reduce their non-performing assets (NPAs)? |
1. Enforcement of Security Interest by secured creditor (Banks/ Financial Institutions). |
2. Transfer of non-performing assets to asset re-construction company, which will then dispose of those assets and realise the proceeds. |
3. To provide a legal framework for securitization of assets. |
4. Assisting banks in making the credibility track record of customers under Credit Information Bureau of India (CIBIL). |
A) 1 and 2
B) 1, 2 and 3
C) 2, 3 and 4
D) 1, 2, 3 and 4
Correct Answer: B
Solution :
[b] The Securitisation and Reconstruction of Financial Assets, and Enforcement of Security Interest Act, 2002 (SARFAESI) empowers Banks / Financial Institutions to recover their non-performing assets without the intervention of the Court.You need to login to perform this action.
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