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Sarfaesi

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SECURITISATION AND RECONSTRUCTION OF FINANCIAL ASSETS AND ENFORCEMENT OF SECURITY INTEREST ACT, 2002 The Sarfaesi Act, 2002 basically was designed to protect the interests of the bank as a creditor. This act provides to protect only secured creditors. This is a powerful tool in the hands of the bank for recovering non-performing assets (NPA). This […]

Bill Of Exchange

Bill Of Exchange

Overview Bill of exchange is a type of negotiable instrument in which a written, unconditional order made by one party (drawer) is transferred to another (the drawee) to pay a certain sum of money, either immediately or on a fixed date as mentioned in the bill, for payment of goods or services received. Drawee by […]

Nationalization Of Banks

Nationalization Of Banks

MEANING Nationalization is a process whereby the national government takes over the private assets into public ownership by an Act or an ordinance. 14 commercial banks were nationalized by the Government of India on July 19, 1969, through an ordinance under Article 123 of the Indian constitution which was replaced by the Banking Companies Act […]