1.

What is the SARFAESI Act?1). It is an act made by the government to channel foreign funds for developmental projects in the urban cities.2). It is an act made by the central bank to offer more interest rates on savings account.3). It is an act made for the recovery of bad loans and provides the recovery of only 25% of the total loan amount.4). It is an act made in 1991 that led to the privatisation of the Indian economy.

Answer»

The correct answer is 3.

As PER the passage, presently, LOK Adalats, DRT and SARFAESI are the COMMON methods sought for credit recovery. The SARFAESI Act even THOUGH being the best mode of recovery, still provides the recovery of only 25% of the total loan AMOUNT. $



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