New Enroll in RBI Grade B New Batch - Starts on May 21

    Question

    Which section of SARFAESI Act provides for registration

    of asset reconstruction company?
    A Section 3 Correct Answer Incorrect Answer
    B Section 4 Correct Answer Incorrect Answer
    C Section 5 Correct Answer Incorrect Answer
    D Section 6 Correct Answer Incorrect Answer

    Solution

    Section 3 - Registration of asset reconstruction companies— (1) No asset reconstruction company shall commence or carry on the business of securitisation or asset reconstruction without— (a) obtaining a certificate of registration granted under this section; and (b) having net owned fund of not less than two crore rupees or such other higher amount as the Reserve Bank, may, by notification, specify.

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