The SARFAESI Act, 2002 and Indian Banking System

Abstract

This book of “The SARFAESI Act, 2002 and Indian Banking System” is concerned with SARFAESI Act and implementation on the banking system. The frauds are being observed on regular intervals, we have seen in the past that many of the defaulters have been taken the loan and did the fraud with the banking system and run away from India so that the debt should not be repaid or any how I must be excused. The author has analyzed the complex relationship between SARFAESI Act and its implementation on the banking system by mainly focusing of the reforms in the banking system. After the reforms introduced in 1991, by the cement committee the economic liberalization increase the economic power of the many forms which may have had a negative impact both the welfare of the society and economics officials consequently and hence for an appropriate legal and retailer later framework which would help to protect capital provider and safeguard consumer liberalization in financial market has become an integral part of economic reforms and has opened up a renewed focus on the issue of regulation Banking system and amendments in SARFAESI Act and development the banking theory and practice covers the entire gamut of topic in the field of banking and evolution of latest trained. The rapid growth of the banking system in terms of presence as well as penetration over the two decades immediately following nationalization of banks in 1969 was impressive. Even as the banking system branch network was growing at a fast pace, by the beginning of 1990s, it was realized that the efficiency of the financial system was not to be measured only by quantitative growth in terms of branch expansion and growth in deposits/advances or merely by fulfillment of social obligations of development. The Indian banking system is undergoing unprecedented changes as a result of new legislation and reforms in response to the contemporary need the present edition has kept pace with this development including the changes in legislation governing globalization of banking as well as the expansion of the banking business to meet the needs of the customers for a wider range of services. Due to that new legislation has been introduced i.e. Insolvency and Bankruptcy Code. The book which was initially aim to serve the need of UG, PG and Research Scholar students has over the years depend and widened and both the scope of contents it is now an essential resource not only for the undergraduate student but also other Professional Bankers and those who pursue more advanced and practically oriented studies on the subject. Readers are also expected to take a note of all the latest developments related to the chapter is covered in the book of referring by the idea is RBI circulars financial peoples economics journals latest books and publication in the subject concern. Although due care has been taken in the publishing of this book yet the possibility of errors of omission or discrepancies cannot be ruled out. Should there be any discrepancy error or operation noted in the study material the author shall be obliged if the same are brought to the notice of for issue of corrigendum in the event of any doubt readers may write to the editor for clarification at given address.