Is SARFASI Act applicable to multistate co-operative bank ?

if the SARFSI Act aaplicable to the multistate co-operative bank, then how would they get registered with SARFASI ACT for their NPA assets?

Answers (1)

53 votes

Sarfaesi Act applies to multi state cooperative banks. The sale of NPAs by a multi state cooperative bank to a securitization company or an asset reconstruction company will be governed by Guidelines on Sale of Financial Assets to Securitisation Company/ Reconstruction Company (SC/RC) by Multi State Urban Cooperative Banks issued by the Reserve Bank of India.

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