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The Role Of The SARFAESI Act In Strengthening India's Financial Stability: Challenges And Opportunities


Hanna Dominic, LLM (Corporate and Commercial Law), Christ Deemed to be University, Bangalore


ABSTRACT


The Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest (SARFAESI) Act, 2002, is a pivotal piece of legislation in India's financial landscape. Enacted to address the burgeoning problem of non-performing assets (NPAs) in the banking sector, the SARFAESI Act empowers banks and financial institutions to recover their dues without the intervention of courts. This paper explores the role of the SARFAESI Act in strengthening India's financial stability, examining its provisions, challenges, and opportunities. The study delves into the historical context of the Act, its operational framework, and its impact on the banking sector. Additionally, the paper identifies the challenges faced in its implementation and suggests potential opportunities for enhancing its effectiveness.


Keywords: SARFAESI Act, Non-Performing Assets (NPAs), Financial Stability, Debt Recovery, Banking Sector, Enforcement of Security Interest.



Indian Journal of Law and Legal Research

Abbreviation: IJLLR

ISSN: 2582-8878

Website: www.ijllr.com

Accessibility: Open Access

License: Creative Commons 4.0

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All research articles published in The Indian Journal of Law and Legal Research are fully open access. i.e. immediately freely available to read, download and share. Articles are published under the terms of a Creative Commons license which permits use, distribution and reproduction in any medium, provided the original work is properly cited.

 

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The opinions expressed in this publication are those of the authors. They do not purport to reflect the opinions or views of the IJLLR or its members. The designations employed in this publication and the presentation of material therein do not imply the expression of any opinion whatsoever on the part of the IJLLR.

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