GKwizard

What is the role of the 'Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002' (SARFAESI Act) 1 in India?

Answer: Option B

The SARFAESI Act provides a legal framework for banks and financial institutions to recover their dues from defaulting borrowers by auctioning their secured assets without the intervention of the court.

1
The concept of 'Lead Bank Scheme' in India, introduced in 1969, primarily aimed at:

2
Which of the following committees is specifically associated with recommending reforms in India's banking sector?

3
The term 'Financial Inclusion' in India encompasses providing access to which of the following formal financial services?

4
What is the primary function of the Reserve Bank of India (RBI) as the 'lender of last resort'?

5
Which of the following is NOT a type of Non-Banking Financial Company (NBFC) in India?

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