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Questions and Answers
According to the Loan Recovery Policy-2022-23, what are the objectives of the policy?
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?
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?
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)?
What is the purpose of CERSAI (Central Registry of Securitization Asset Reconstruction and Secur)?
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What is the significance of the Limitation Decreed accounts under the SARFAESI Act?
What is the significance of the Limitation Decreed accounts under the SARFAESI Act?
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