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    Question

    Which act is not used by banks in India for loan

    recovery from wilful defaulters?
    A Debt Recovery Tribunals (DRTs) Correct Answer Incorrect Answer
    B The Insolvency and Bankruptcy Code (IBC) Correct Answer Incorrect Answer
    C The SARFAESI Act Correct Answer Incorrect Answer
    D The Securities and Exchange Board of India (SEBI) Act Correct Answer Incorrect Answer
    E RBI guidelines on KYC and Anti Money Laundering Correct Answer Incorrect Answer

    Solution

    Banks use Debt Recovery Tribunals (DRTs), the Insolvency and Bankruptcy Code (IBC), the SARFAESI Act, and RBI guidelines on KYC and Anti Money Laundering for loan recovery. The SEBI Act is not used for this purpose.

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