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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