BANKING GENERAL KNOWLEDGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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15
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30
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45
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60
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Detailed explanation-1: -Under sub-section (3) of section 20, of the The Recovery of Debts Due to Banks and Financial Institutions Act, 1993, an Appeal has to be filed within 45 days from the date on which a copy of the order aggrieved has been passed or deemed to have been passed by the Tribunal is received.
Detailed explanation-2: -The application shall be filed by the applicant with the Registrar within whose jurisdiction the applicant is functioning as a bank or financial institution, as the case may be, for the time being. Rs. 1, 000 for every one lakh, subject to a maximum of Rs. 1, 50, 000.
Detailed explanation-3: -The Tribunals have to resolve the claim within six months. The appeal against the judgment of DRT can be made within 45 days only to DRAT(Debt Recovery Appellate Tribunal).
Detailed explanation-4: -Welcome to Securitisation Appeals (SAs) can be filed with the DRTs by those aggrieved against action taken by secured creditors under the SARFAESI Act.