Finance Ministry allows HFCs above Rs 100 cr to use to SARFAESI law

Current GK ( Master) Indian Economy

Ministry of Finance has allowed housing finance companies (HFCs) with asset size of over Rs. 100 crore to recover the dues using SARFAESI law.
Earlier HFCs with assets over Rs. 500 crore (and notified by Finance Ministry) were allowed to use SARFAESI law to recover dues.
SARFAESI Act 2002 allows banks and other financial institutions to auction residential or commercial properties (of Defaulter) to recover loans.