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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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