BANKING GENERAL KNOWLEDGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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SARFAESI ACT
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Banking Regulation Act.
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Foreign Exchange Management Act
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Industrial Dispute Act.
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Detailed explanation-1: -The SARFAESI Act 2002 has helped a lot in recovering the defaulting loans and reducing the levels of non-performing assets (NPAs) in banks and other financial institutions.
Detailed explanation-2: -Securitisation and Reconstruction of Financial Assets and Enforcement of Securities Interest Act, 2002 (SARFAESI Act)
Detailed explanation-3: -NPA full form is Non-performing Assets. NPA is nothing but the loans that are being given by the Indian banks and other operating financial institutions whose interests as well as the principal amounts have been in a state of overdue status for a fairly long time.
Detailed explanation-4: -SARFAESI Act – 2002 The banks have to first issue a notice.
Detailed explanation-5: -A non-performing asset (NPA) is a classification used by financial institutions for loans and advances on which the principal is past due and on which no interest payments have been made for a period of time.