Question

    What does the SARFAESI Act, 2002 allow secured creditors

    to do?
    A Issue bonds without approval Correct Answer Incorrect Answer
    B Take possession of collateral upon default in repayment Correct Answer Incorrect Answer
    C Merge with other financial institutions Correct Answer Incorrect Answer
    D Operate overseas without restrictions Correct Answer Incorrect Answer
    E Modify loan interest rates at will Correct Answer Incorrect Answer

    Solution

    The SARFAESI Act empowers secured creditors to take control of collateral if the borrower defaults on the loan repayment.

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