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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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