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Tell something about SARFAESI Act 2002?

Answer Posted / Sharad Vishwakarma

The Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest (SARFAESI) Act, 2002 is a legislation aimed at addressing the problem of bad loans in India. The act empowers banks and financial institutions to seize and sell assets pledged as collateral for non-repayment of loans.

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