The Enforcement of Security Interest and Recovery of Debts Laws and Miscellaneous Provisions (Amendment) Bill, 2016 passed

Q.  Parliament passed a bill empowering banks to confiscate security in the event of________ default.
- Published on 10 Aug 16

a. Interest
b. Loan
c. Capital
d. Mortgage

ANSWER: Loan
 
Parliament passed the The Enforcement of Security Interest and Recovery of Debts Laws and Miscellaneous Provisions (Amendment) Bill, 2016, which empowers banks to take security in the event of loan default
  • It is significant in view of default by industrialist Vijay Mallya
  • RS cleared this bill which amends 4 laws- Sarfaesi Act, DRT Act, Indian Stamp Act and Depositories Act.

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