Answer- What is SARFAESI about?

The Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 also known as the SARFAESI Act is an Indian law. It allows banks and other financial institution to auction residential or commercial properties to recover loans. The first asset reconstruction company ARC of India, ARCIL, was set up under this act.

Question

What is SARFAESI about?

A 1) It is a government scheme for providing employment opportunities to unskilled youth

B 2) It is a law that enables banks and other financial institution to auction residential or commercial properties to recover loans

C 3) It is central government’s scheme to make 100% Financial Inclusion in all villages having population more than 1000

D 4) It is a refinance scheme by NABARD under which banks get refinance of the loans given to marginal and small farmers

E 5) Loan waiver to marginal and small farmers for loans upto Rs.1.0 lakh

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What is SARFAESI about?

Solution