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.

    Practice Next
    More Regulation and supervision Questions

    Relevant for Exams:

    ask-question