The minimum loan size eligible for debt recovery under the Securitisation and Reconstruction of Fina...........

Current GK (IBPS-CL) Banking Awareness

The minimum loan size eligible for debt recovery under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest (SARFAESI) Act, 2002 is proposed to be reduced from the existing level of Rs 50 lakhs to ______.

Rs 5 lakhs

Rs 10 lakhs

Rs 15 lakhs

Rs 20 lakhs

Rs 25 lakhs

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Explanation:

To improve credit discipline while continuing to protect the interest of small borrowers, for NBFCs with minimum asset size of `100 crores, the minimum loan size eligible for debt recovery under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest (SARFAESI) Act, 2002 is proposed to be reduced from the existing level of `50 lakhs to `20 lakhs.