Question

    Who has the power to exempt  a class or classes of

    banks or financial institutions from the provisions of SARFAESI Act?
    A Supreme Court Correct Answer Incorrect Answer
    B State Government Correct Answer Incorrect Answer
    C Central Government Correct Answer Incorrect Answer
    D Reserve Bank of India Correct Answer Incorrect Answer

    Solution

    Section 31A of SARFAESI Act - Power to exempt a class or classes of banks or financial institutions—(1)The Central Government may, by notification in the public interest, direct that any of the provisions of this Act,— (a) shall not apply to such class or classes of banks or financial institutions; or (b) shall apply to the class or classes of banks or financial institutions with such exceptions, modifications and adaptations, as may be specified in the notification

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