Question

    Which act empowered the RBI to issue 'Asset

    Reconstruction Companies (ARCs)' licenses in India?
    A Banking Regulation Act, 1949 Correct Answer Incorrect Answer
    B Companies Act, 2013 Correct Answer Incorrect Answer
    C Insolvency and Bankruptcy Code, 2016 Correct Answer Incorrect Answer
    D Negotiable Instruments Act, 1881 Correct Answer Incorrect Answer
    E SARFAESI Act, 2002 Correct Answer Incorrect Answer

    Solution

    The Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest (SARFAESI) Act, 2002 empowered the RBI to issue licenses to ARCs in India.

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