Module: | Priority Sector, Consumer Protection & Digital Lending
Q129: Credit Institutions (CIs) that are secured creditors under the SARFAESI Act, 2002, must display information about borrowers whose secured assets have been possessed. How often must this list be updated on their website?
✅ Correct Answer: C
The correct answer is C. Credit Institutions that are secured creditors under the SARFAESI Act, 2002, must maintain and display information on their official website regarding borrowers whose secured assets have been taken into possession.
This public transparency list must be mandatorily updated on a strict monthly basis to ensure accurate reporting of seized collateral and to deter willful defaults while maintaining operational feasibility for the banks.
This public transparency list must be mandatorily updated on a strict monthly basis to ensure accurate reporting of seized collateral and to deter willful defaults while maintaining operational feasibility for the banks.