Module: | Operational Procedures & Miscellaneous
Q13: Under the proposed Section 31A of the SARFAESI Act, specific power is granted to exempt certain classes of banks or financial institutions from the application of the Act. Which authority is empowered to issue such notifications?
✅ Correct Answer: C
The proposed Section 31A empowers the Central Government to exempt any class of banks or financial institutions from the provisions of the Act by issuing a notification in the official gazette.