Q. SARFAESI Act is often seen in news, related to which of the following?

[A] Nonperforming assets

[B] Priority sector lending

[C] Credit Risk Weighted Ratio

[D] Interest rates

Answer: A

Explanation: Government finally cracked down on the wilful defaulters by passing the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest (SARFAESI) Act, 2002.

The Act gives far reaching powers to the banks/FIs concering NPAs.

Source: Ramesh Singh