The correct answer is: 2002.
The Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SARFAESI Act) is an Act
of the Parliament of India enacted in 2002. The Act provides for the securitization of financial assets, the reconstruction of financial assets, and the enforcement of security interest.The Act was enacted in response to the growing problem of non-performing assets (NPAs) in the Indian banking system. The Act provides a framework for banks and other financial institutions to recover their dues from borrowers who have defaulted on their loans.
The Act has been successful in reducing the level of NPAs in the Indian banking system. However, the Act has also been criticized for being too harsh on borrowers.
The Act has been amended several times since it was enacted. The most recent amendment was in 2016.
The Act has been challenged in court several times. However, the Supreme Court of India has upheld the constitutional validity of the Act.
The Act has been praised by some for its effectiveness in reducing NPAs. However, the Act has also been criticized by others for being too harsh on borrowers.
The Act is a complex piece of legislation. However, it is an important piece of legislation that has had a significant impact on the Indian banking system.
The following are the options for the question:
- A. 1999
- B. 2000
- C. 2001
- D. 2002
Option A is incorrect. The SARFAESI Act was enacted in 2002, not 1999.
Option B is incorrect. The SARFAESI Act was enacted in 2002, not 2000.
Option C is incorrect. The SARFAESI Act was enacted in 2002, not 2001.
Option D is correct. The SARFAESI Act was enacted in 2002.