SARFAESI Act - 2002

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The SARFAESI Act was enacted in which year?

2000

2001

2002

2003

Consider the following regarding channels for recovery of bad debts in the Indian banking sector:

Which of the above is / are utilized for the recovery of non-performing assets (NPAs) by banks?

Only 1 and 2

Only 2 and 3

1, 2 and 3

Only 1 and 3

What is the primary objective of the SARFAESI Act, 2002?

To regulate interest rates

To enhance financial literacy

To facilitate the recovery of loans by enforcing security interests

To promote foreign investments

Which two committees emphasized the necessity of legislative measures like the SARFAESI Act to address inefficiencies in recovery frameworks?

Raghuram Rajan Committee and Vimal Jalan Committee

Narasimham Committees and Andhyarujina Committee

Nariman Committee and Reddy Committee

C Rangarajan Committee and Damodaran Committee

What is the minimum threshold for recovery under the SARFAESI Act, 2002?

₹50,000

₹1 lakh

₹2 lakh

₹10 lakh

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