banking · In Force

SARFAESI Act 2002

Banks enforce security interests without courts for NPAs > Rs 1 lakh. 60-day notice. ARC framework for bad loan purchase. 2016: reduced auction timeline, co-operative banks included.

Amended

2016

Ministry

Ministry of Finance

Key provisions and changes

• No court for NPA enforcement
• 60-day notice
• ARC bad loan purchase
• Co-operative banks included (2016)
• DRT jurisdiction for disputes