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Question

DRT and SARFAESI are the two methods adopted by Bank for

A Fund Transfer Correct Answer Incorrect Answer
B Recover Non-performing Assets Correct Answer Incorrect Answer
C Providing safe deposits Correct Answer Incorrect Answer
D Transfer electronic cheques Correct Answer Incorrect Answer
E Instant mobile payment system Correct Answer Incorrect Answer

Solution

All those funds provided by the Bank on which neither the Principal amount nor the rate of Interest is given back, are grouped under NPA. To recover NPA, the Bank has adopted two methods- (i) DRT – Debt Recovery Tribunal (ii) SARFAESI – Securitisation and Reconstruction of Financial Assets and Enforcement of Securities Interest Act.

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