Banking Awareness - Banking Acts, Reforms & Risk Management
Under SARFAESI, which of the following actions can a bank take after issuing notice to the borrower?
Under SARFAESI, which of the following actions can a bank take after issuing notice to the borrower?
easy Q3 of 15
Step-by-Step Solution
Step 1: Recall the enforcement power
SARFAESI allows banks to act against secured assets.Step 2: Identify the permitted action
Banks can take possession of secured assets for recovery.Final Answer:
Take possession of the secured asset → Option CQuick Check:
Possession and sale of assets is the core SARFAESI power ✅
Quick Trick: Possession of security is the key action under SARFAESI.
Common Mistakes:
MISTAKES- Linking SARFAESI with criminal or insolvency proceedings.
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