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Loan Recovery Policies and Procedures

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Questions and Answers

According to the Loan Recovery Policy-2022-23, what are the objectives of the policy?

To serve demand notices to borrowers

To recover non-performing assets (NPA) (correct)

To identify accounts to initiate action under SARFAESI Act

To safeguard the assets charged to the bank

What is the purpose of the Recovery Committee at HO, CO, and RO?

To identify accounts to initiate action under SARFAESI Act

To serve demand notices to borrowers

To recover non-performing assets (NPA)

To follow up on NPA accounts (correct)

Under the SARFAESI Act, what is the process for taking possession of secured assets of a borrower?

Fixing the reserve price

Selling movable property

Serving a demand notice (correct)

Selling immovable property

What is the purpose of CERSAI (Central Registry of Securitization Asset Reconstruction and Secur)?

<p>To maintain a registry of securitization assets</p> Signup and view all the answers

What is the significance of the Limitation Decreed accounts under the SARFAESI Act?

<p>It sets the time limit for initiating action under the SARFAESI Act</p> Signup and view all the answers

Loan Recovery Policies and Procedures

Choose a study mode

Podcast

Questions and Answers

According to the Loan Recovery Policy-2022-23, what are the objectives of the policy?

What is the purpose of the Recovery Committee at HO, CO, and RO?

Under the SARFAESI Act, what is the process for taking possession of secured assets of a borrower?

What is the purpose of CERSAI (Central Registry of Securitization Asset Reconstruction and Secur)?

What is the significance of the Limitation Decreed accounts under the SARFAESI Act?

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