Question

Which of the following is considered a "financial asset"

Q: Answer-Which of the following is considered a 'financial asset' under the SARFAESI Act?

The SARFAESI Act defines financial assets broadly to include debt or receivables, whether secured or unsecured, and any right or interest in property that secures a debt, whether it is existing, future, or contingent.

under the SARFAESI Act?

A Debt or receivables, whether secured or unsecured

B Only debt secured by immovable property

C Only financial assistance from the government

D Personal loans given to individuals

E Non-repayable loans granted by banks

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Which of the following is considered a "financial asset"

Solution