Transcription of SARFAESI.Amended - DRT
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SARFAESI.Amended - DRT
THE SECURITISATION AND RECONSTRUCTION OF FINANCIAL ASSETS AND ENFORCEMENT OF SECURITY INTEREST ACT, 2002 (Act No. 54 of 2002) _____ STATEMENT OF OBJECTS AND REASONS _____ The financial sector has been one of the key drivers in India's efforts to achieve success in rapidly developing its economy. While the banking industry in India is progressively complying with the international prudential norms and accounting practices, there are certain areas in which the banking and financial sector do not have a level playing field as compared to other participants in the financial markets in the world.
(b) facilitating securitisation of financial assets of banks and financial institutions with or without the benefit of underlying securities; (c) facilitating easy transferability of financial assets by the
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