Question
Who has the power to exempt a class or classes of
banks or financial institutions from the provisions of SARFAESI Act?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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