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    Question

    Which Act empowers banks to seize and auction assets of

    defaulting borrowers without court intervention?
    A RBI Act, 1934 Correct Answer Incorrect Answer
    B Banking Regulation Act, 1949 Correct Answer Incorrect Answer
    C SARFAESI Act, 2002 Correct Answer Incorrect Answer
    D IBC, 2016 Correct Answer Incorrect Answer
    E Companies Act, 2013 Correct Answer Incorrect Answer

    Solution

    SARFAESI allows banks to recover NPAs without judicial intervention by auctioning the security assets.

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