NPA | DRT | DART | SARFAESI Act | Insolvency and Bankruptcy Code | Banking Awareness

In this video we are discussing Non-Performing Asset, | The Debts Recovery Tribunals | Debts Recovery Appellate Tribunals | SARFAESI Act | Banking Awareness which is very helpful for the bank's main exam. NPA : NPA stands for Non-Performing Asset, and it's a term used in banking to describe a loan or advance that has stopped generating income for a financial institution or bank. DRT and DART : The Debts Recovery Tribunals (DRTs) and Debts Recovery Appellate Tribunals (DRATs) were established under the Recovery of Debts and Bankruptcy Act (RDB Act), 1993 with the specific objective of providing expeditious adjudication and recovery of debts due to Banks and Financial Institutions. At present, 39 DRTs and 5 DRATs are functioning across the country. Each DRT and DRAT are headed by a Presiding Officer and a Chairperson respectively. SARFAESI Act : The SARFAESI Act stands for “Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act”. The SARFAESI Act allows banks and other financial institutions for auctioning commercial or residential properties to recover a loan when a borrower fails to repay the loan amount. IBC: The Insolvency and Bankruptcy Code (IBC) of 2016 is a law that aims to resolve insolvency and bankruptcy cases in India. The IBC was introduced to address the issue of bad loans in the banking system and to make the process of doing business less cumbersome. The IBC's objectives include: Protecting the interests of creditors, Promoting entrepreneurship, Increasing credit availability, Reviving companies in a timely manner, and Simplifying and expediting insolvency proceedings. #ibps #ibpspomains #rbigradeb #interviewpreparation #sbi #sbiclerkmains #sbipo #rrbpointerview #bankingawareness