Q1 Which of the following statements are correct regarding the identity and enactment of the SARFAESI Act? Q2 Which of the following statements are correct regarding the applicability and scope of the SARFAESI Act? Q3 Consider the following statements regarding the enforcement process under Section 13 of the SARFAESI Act: Q4 Under the SARFAESI Act framework, the classification of a borrower's account as a "Non-Performing Asset" (NPA) is a mandatory prerequisite for enforcement. Which authority issues the guidelines for this classification? Q5 The SARFAESI Act prescribes a specific monetary threshold below which the provisions of the Act cannot be invoked. What is the minimum outstanding loan amount required for a bank to initiate action under this Act?