Tag: SARFAESI Act

In 2002, the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest (SARFAESI) Act was passed, and it is a key aspect of Indian law. To enable financial institutions to manage non-performing assets (NPAs), the Act permits lenders to collect debts without the need for drawn-out legal proceedings. In addition to its measures to preserve borrower rights, the SARFAESI Act focuses on empowering lenders to effectively manage bad loans. This blog outlines the main sections of the SARFAESI Act and the rights it grants debtors.

Understanding borrower rights is crucial in navigating loans. From interest rate regulations to legal protections, ensure transparency and fairness while safeguarding against unfair lending practices and harassment.