General Studies · Banking Regulation
What is the regulatory framework that provides banks in India the power to enforce security interests on secured assets (other than agricultural land) without the intervention of the court?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1The Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest (SARFAESI) Act, 2002✓
- 2The Negotiable Instruments Act, 1881
- 3The Transfer of Property Act, 1882
- 4The Indian Contract Act, 1872
Correct answer
The Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest (SARFAESI) Act, 2002
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