Banking Awareness - Banking Acts, Reforms & Risk Management
Which of the following loans generally falls outside the scope of SARFAESI Act?
Which of the following loans generally falls outside the scope of SARFAESI Act?
medium Q7 of 15
Step-by-Step Solution
Step 1: Recall applicability condition
SARFAESI applies only to secured loans.Step 2: Identify unsecured option
Personal loans without collateral are unsecured.Final Answer:
Unsecured personal loan → Option CQuick Check:
No collateral means no SARFAESI action ✅
Quick Trick: Unsecured = out of SARFAESI.
Common Mistakes:
MISTAKES- Assuming all retail loans are covered under SARFAESI.
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