5 Questions
According to the Loan Recovery Policy-2022-23, what are the objectives of the policy?
To recover non-performing assets (NPA)
What is the purpose of the Recovery Committee at HO, CO, and RO?
To follow up on NPA accounts
Under the SARFAESI Act, what is the process for taking possession of secured assets of a borrower?
Serving a demand notice
What is the purpose of CERSAI (Central Registry of Securitization Asset Reconstruction and Secur)?
To maintain a registry of securitization assets
What is the significance of the Limitation Decreed accounts under the SARFAESI Act?
It sets the time limit for initiating action under the SARFAESI Act
Test your knowledge on loan recovery policies and procedures with this informative quiz. Explore the objectives, methods, and guidelines for recovering non-performing assets (NPA). Learn about the role of recovery committees, safeguarding bank assets, and the SARFAESI Act. Challenge yourself and enhance your understanding of loan recovery practices.
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