The Securitisation and Reconstruction of Financial Assets and Enforcement of Securities Interest Act...........

Economic and Social Issues Monetary and Fiscal Policy

The Securitisation and Reconstruction of Financial Assets and Enforcement of Securities Interest Act, 2002 (also known as the SARFAESI Act) is an Indian law. It allows banks and other financial institution to___________________________ .

Auction residential or commercial properties to recover loans

File an FIR against the loan defaulters

Display the defaulters names and other details on their respective websites publicly

Use the services of the recovery agents

छोटे Courses बड़े Results

Master Monetary and Fiscal Policy

Prepare through Micro-courses

Try Now

Explanation:

The Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SARFAESI) empowers Banks / Financial Institutions to recover their non-performing assets without the intervention of the Court. The Act provides three alternative methods for recovery of nonperforming assets, namely: - Securitisation Asset Reconstruction Enforcement of Security without the intervention of the Court The provisions of this Act are applicable only for NPA loans with outstanding above Rs. 1.00 lac. NPA loan accounts where the amount is less than 20% of the principal and interest are not eligible to be dealt with under this Act