Answer-What is the primary objective of the SARFAESI Act, 2002?

The main purpose of SARFAESI is to give banks a tool to directly recover their money by seizing and selling the security without going through a long court process.

Question

What is the primary objective of the SARFAESI Act,

2002?

A To completely revive sick industrial companies

B To protect the rights of unsecured operational suppliers

C To allow banks to directly recover secured loans by seizing and selling pledged assets without going to court

D To handle the personal bankruptcy of all retail individuals

E To regulate the stock market transactions of corporate entities

Practice Next

More Risk Management in Banks Questions

MALDA gap separates?
The Gandhara art – a style of Buddhist visual art that developed between 1^st century BCE the 7^th century CE, flourished larg...
Consider the following statements in the context of Buddhist literature:

1. None of the Buddha’s speeches were written down during his lifetime...
Who wrote the national anthem, Jana Gana Mana?
Consider the following statements:

1. Charvaka was the main expounder of this philosophy.

2. The philosophy is materialistic in nature.

The main source of information about Harappan culture is-
The rule of the Mughals was established after the
Combine List-I and List-II and select the correct answer from the code given below

Narendranath Dutt is the real name of which of the following Great Personalities of India?
Recently, the Government of India gave the approval to administer Remdesivir for emergency use in patients suffering from COVID-19. In this context, con...

What is the primary objective of the SARFAESI Act,

Solution