Question

The Finance Ministry has allowed _______to take recourse to the SARFAESI law to recover bad loans.
NBFC
Insurance
Banks
Finance sector trade unions
UNIFI

Answer 1

banks is the answer.

Answer 2

Answer:

The Finance Ministry has allowed " NBFC " to take recourse to the SARFAESI law to recover bad loans.

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explanation :-

⇒ The union finance secretery has allowed NBFC "[ Non Finance Banking Companies ]" to recover bad loans.

⇒ NBFC could use the  "SARFAESI LAW" when his asset base is 500 crore or above in case of deamond deafaulted of repayment loan.

⇒NBFC cannot avail the "SARFAESI LAW" in respect of loans less than 1 crore .

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have a good day :)