Banking Awareness - Banking Acts, Reforms & Risk Management
After taking possession of a secured asset under SARFAESI, a bank mainly aims to:
After taking possession of a secured asset under SARFAESI, a bank mainly aims to:
hard Q8 of 15
Step-by-Step Solution
Step 1: Understand the recovery process
Possession is taken to enable recovery.Step 2: Identify the final objective
The secured asset is sold to realise outstanding dues.Final Answer:
Sell the asset to recover dues → Option DQuick Check:
Possession → Sale → Recovery under SARFAESI ✅
Quick Trick: End goal of SARFAESI is recovery reminder.
Common Mistakes:
MISTAKES- Thinking possession itself completes the recovery.
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