Banking Awareness - Banking Acts, Reforms & Risk Management
Which of the following best explains the term 'security interest' under SARFAESI?
Which of the following best explains the term 'security interest' under SARFAESI?
medium Q6 of 15
Step-by-Step Solution
Step 1: Understand the term used in SARFAESI
Security interest refers to the lender’s legal claim.Step 2: Match definition with options
It is the right over a secured asset provided by the borrower.Final Answer:
Right of a lender over a secured asset → Option BQuick Check:
Security interest = lender’s claim on security ✅
Quick Trick: Security interest always links lender and collateral.
Common Mistakes:
MISTAKES- Confusing security interest with interest income.
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