Banking · SARFAESI Act
What is the minimum delinquency status after which a secured asset related to a defaulted loan can be proceeded against by a bank under the SARFAESI Act, 2002?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1The bank must have filed a case with the Debt Recovery Tribunal (DRT).
- 2The loan must have been overdue for at least 180 days.
- 3The loan must have been classified as a Non-Performing Asset (NPA).✓
- 4The loan must have been declared a Sub-Standard Asset.
Correct answer
The loan must have been classified as a Non-Performing Asset (NPA).
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