The SARFAESI Act allows banks to:
ARecover dues by selling secured assets
BDecide the policy repo rate directly
CPrint and issue new currency notes
DRegulate the insurance companies
Answer & Solution
Correct answer: A. Recover dues by selling secured assets
1. The question asks: The SARFAESI Act allows banks to.
2. Correct answer: Recover dues by selling secured assets.
3. SARFAESI lets banks enforce security interest without court action.
_Source: BOI Quick Revision — General Banking & Financial Awareness (2020), SARFAESI_
Related questions
An NPA of five crore rupees and above needs a stock audit:A bank may spread the provision for a detected fraud over up to:A state government guaranteed advance turns NPA after dues run past:A central government guaranteed advance turns NPA only when the guarantee is:Provisions on standard assets are not counted while arriving at:The standard asset provision on commercial real estate is:The standard asset provision on farm credit and housing loans is:Loss assets that remain on the books must be provided for at: