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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? 
    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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