General Studies · Legal Aspects of Banking

Which of the following statements correctly explains the core features of the SARFAESI Act, 2002? A. The SARFAESI Act empowers banks and financial institutions to enforce security interests without the mandatory intervention of courts or tribunals. B. The SARFAESI Act provides a structured legal framework for Asset Reconstruction Companies (ARCs) to acquire and manage the financial assets of banks. C. The provisions of the SARFAESI Act serve as an effective legal remedy for the enforcement of security interest alongside existing channels like DRTs. D. The SARFAESI Act limits the legal rights and options available to a secured creditor for taking action in case of defaulted loans.