Question
Under which Act is the legal framework for the recovery
of debts by banks and financial institutions governed?Solution
the Recovery of Debts Due to Banks and Financial Institutions Act, 1993 governs the recovery of debts by banks and financial institutions. This statute empowers banks and financial institutions to recover debts due to them by initiating legal proceedings before the Debt Recovery Tribunals. The Act provides a specialized mechanism for the expeditious adjudication and enforcement of debt recovery matters, ensuring timely resolution of disputes between banks/financial institutions and their borrowers.
A can complete a piece of work in 12 days, B in 18 days, and C in 36 days. They all work together for a few days, after which A leaves. B and C continue...
A person, "A," sells an item for Rs. 380.8 and incurs a 15% loss. At what price should "A" sell the item to achieve a 5% profit?
A product is sold at ₹720 after two successive discounts of 10% and 20%. Calculate the marked price of the product.
If 'P' represents the largest single-digit prime number, determine the fourth proportional to the numbers (P + 3), (P - 2), and (P + 5).
I). p 2  – 5p – 126 = 0
II). q 2  + 9q – 90 = 0
In a class, the ratio of boys to girls is 5:3. If 4 boys and 2 girls leave the class, the ratio of boys to girls becomes 3:2. How many students were the...
A man is standing 30 meters away from the foot of a tree. The angle of elevation from his eyes to the top of the tree is 60 degrees. Find the height of ...
A shopkeeper bought two articles for Rs. 600 each. If he sold one of them at 40% profit and the other at 25% loss, then find the difference between the ...
