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    Question

    Under SARFAESI Act 2002, what is the minimum threshold

    of loan default required before a secured creditor can enforce security interest?
    A тВ╣10,000 Correct Answer Incorrect Answer
    B тВ╣1 lakh Correct Answer Incorrect Answer
    C тВ╣2 lakh Correct Answer Incorrect Answer
    D тВ╣10 lakh Correct Answer Incorrect Answer
    E No threshold; any default qualifies Correct Answer Incorrect Answer

    Solution

    For SARFAESI enforcement, the secured debt must exceed тВ╣1 lakh, and the account should be classified as NPA.

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