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      Question

      Under the SARFAESI Act, 2002, what is the minimum notice

      period a bank must give to a borrower before taking possession of secured assets?Β 
      A 15 days Correct Answer Incorrect Answer
      B 30 days Correct Answer Incorrect Answer
      C 60 days Correct Answer Incorrect Answer
      D 90 days Correct Answer Incorrect Answer
      E 120 days Correct Answer Incorrect Answer

      Solution

      Section 13(2) of the SARFAESI Act requires the secured creditor to give a 60-day notice to the borrower to discharge their liabilities.

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