Question

Expand 'SARFAESI' :

• A. Securitisation and Restructuring of Financial Assets and Enforcement of Security Interest
• B. Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest
• C. Securitisation and Redevelopment of Financial Assets and Enforcement of Security Interest
• D. Securitisation and Reconstruction of Financial Assets and Enrichment of Security Interest

Answer 1

Answer:

B. Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest

• The SARFAESI Act full form is – “Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act”.

• The SARFAESI Act allows banks and other financial institutions for auctioning commercial or residential properties to recover a loan when a borrower fails to repay the loan amount.