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    Question

    Under the SARFAESI Act, what is the minimum default

    amount required for enforcement of security interest?
    A ₹50,000 Correct Answer Incorrect Answer
    B ₹1 lakh Correct Answer Incorrect Answer
    C ₹5 lakh Correct Answer Incorrect Answer
    D ₹10 lakh Correct Answer Incorrect Answer
    E ₹20 lakh Correct Answer Incorrect Answer

    Solution

    The SARFAESI Act can be invoked only if the borrower’s default is ₹1 lakh or more and the loan is classified as an NPA.

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