Main Article Content
Increasing non-performing assets (NPAs) of the banks have posed several severe challenges in maintaining the economic stability of any country and India is no exception to this. With the objective of reducing NPAs of the nation and thereby having economic stability in the country, the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act (SARFAESI) was enacted in 2002 in India. The primary intent of the SARFAESI Act aims to set guidelines of securitization and reconstruction of financial assets and enforcement of security interests. This research paper attempts to critically study the SARFAESI Act, 2002 that was legislated in 2002 and critically look into the shortcomings that are encountered in the execution of the Act.
This work is licensed under a Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License.
Database on Indian Economy [Internet]. DBIE-RBI: DATABASE OF INDIAN ECONOMY. [cited 2019Jan17]. Available from: https://dbie.rbi.org.in/DBIE/dbie.rbi?site=home.
Gautam, D ( 2018). The SARFAESI Act: A Regulatory Framework for NPAs in India. Journal of Capital Market and Securities Law.; 1(1): 29–35p.
Francis, G (2019). An Overview Of SARFAESI Act And Its Impact On Npa. Paripex - Indian Journal Of Research 8 (4). 27-28
Jain, A &Chandra,S (2016). The impact of SARFAESI Act 2002 in recovering the non-performance assets in public sector banks: A study on recovery in SBI, CBI, CB, BOB and PNB (2008 to 2014). International Journal of Applied Engineering Research. 11. 5218-5224
Malek, N (2022). Enforcement of the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest (SARFAESI) Act, 2002: Key Challenges. CSAC. 33-39.
Overview of the SARFAESI Act, 2002. I pleaders.
Panigrahi, M. A., &Chaudhury, S. K. (2017), The Impact of SARFAESI Act 2002 In Reducing Non-Performing Assets of Indian Scheduled Commercial Banks. p. 126
Rao, D. (2012). Critical Issues Under SARFAESI Act, 2002.
Rathee, N, ( 2019). Impact of Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act 2002 on banks and financial institutions in India emerging trends and challenges
RBI committee releases suggestions to streamline functioning of ARCs” .https://www.moneycontrol.com/news/economy/policy/rbi-committee-releases-suggestions-to-streamline-functioning-of-arcs-7671121.html
SARFAESI ACT, 2002- Applicability, Objectives, Process, Documentation (2022). https://cleartax.in/s/sarfaesi- .
Singh, N. (2020). Impact of SARFAESI On NPA. International Journal of Legal Developments and Allied Issue. The Law Brigade (Publishing) Group. p.163
The Securitisation And Reconstruction Of Financial Assets And Enforcement Of Security Interest Act, 2002. https://legislative.gov.in/sites/default/files/A2002-54.pdf