UGC Approved Journal no 63975

ISSN: 2349-5162 | ESTD Year : 2014
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Published in:

Volume 8 Issue 7
July-2021
eISSN: 2349-5162

UGC and ISSN approved 7.95 impact factor UGC Approved Journal no 63975

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Published Paper ID:
JETIR2107228


Registration ID:
312273

Page Number

b765-b771

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Title

Procedure to invoke remedy for Bank and financial institution under SARFAESI ACT 2002.

Abstract

In the present era the scope of banking is expanding. The individual, firms, companies,ports etc are requirements of loan from the Bank. The reason for the loan may differ from person to person and company to company. All Banks should function in accordance with the guidelines/norms issued by The Reserve Bank of India. Subject to the lending norms of Reserve Bank of India, the Banks and Financial Institutions sanction loans for different purposes. Though, the Banks and Financial Institutions can lend money even without security, normally, the Banks and Financial Institutions insist for security for the repayment of loan. The fixed assets, receivables etc. can be securities acceptable to the Banks and Financial Institutions for sanctioning the loans. The loan entitlements, the procedure for sanctioning the loan, the security issues etc., are exclusively governed by the guidelines/norms issued by the Reserve Bank of India. Again, loan, being an agreement or understanding between the Bank and the borrower, the general laws like Law of Contract, Transfer of Property Act, Specific Relief Act, Specific Performance etc., are applicable to all banking transactions depending upon the nature of transaction. The prime objective of Bank is to receive deposits and use those deposits efficiently so as to make money. The Banks will also render certain specific services on behalf of its customers. The Reserve Bank of India will issue guidelines and norms considering the policy of the Government too. Exercising control over flow of money from Banks and Financial Institutions, the Reserve Bank of India promotes the balanced growth.

Key Words

Reserve Bank of India, Company Law, Loan, Transfer of Property, Specific Performance etc

Cite This Article

"Procedure to invoke remedy for Bank and financial institution under SARFAESI ACT 2002.", International Journal of Emerging Technologies and Innovative Research (www.jetir.org), ISSN:2349-5162, Vol.8, Issue 7, page no.b765-b771, July-2021, Available :http://www.jetir.org/papers/JETIR2107228.pdf

ISSN


2349-5162 | Impact Factor 7.95 Calculate by Google Scholar

An International Scholarly Open Access Journal, Peer-Reviewed, Refereed Journal Impact Factor 7.95 Calculate by Google Scholar and Semantic Scholar | AI-Powered Research Tool, Multidisciplinary, Monthly, Multilanguage Journal Indexing in All Major Database & Metadata, Citation Generator

Cite This Article

"Procedure to invoke remedy for Bank and financial institution under SARFAESI ACT 2002.", International Journal of Emerging Technologies and Innovative Research (www.jetir.org | UGC and issn Approved), ISSN:2349-5162, Vol.8, Issue 7, page no. ppb765-b771, July-2021, Available at : http://www.jetir.org/papers/JETIR2107228.pdf

Publication Details

Published Paper ID: JETIR2107228
Registration ID: 312273
Published In: Volume 8 | Issue 7 | Year July-2021
DOI (Digital Object Identifier): http://doi.one/10.1729/Journal.27624
Page No: b765-b771
Country: Aurangabad , Maharashtra, India .
Area: Other
ISSN Number: 2349-5162
Publisher: IJ Publication


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