Economics · Banking and Financial Regulations
Which of the following is a key feature of the SARFAESI Act, 2002?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1It applies exclusively to public sector banks
- 2It empowers banks and financial institutions to take possession of secured assets without court intervention✓
- 3It mandates mandatory prior court approval for every asset seizure
- 4It applies primarily to unsecured loans
Correct answer
It empowers banks and financial institutions to take possession of secured assets without court intervention
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