Sarfaesi Act
A SUMMER INTERNSHIP REPORT ON
EFFECTIVNESS OF SARFAESI ACT AND DRT IN LOAN RECOVERY PROCESS
UNDERTAKEN AS A PART OF
MANAGEMENT OF BUSINESS FINANCE
SUBMITTED BY:
RAHUL NIGAM
INDIAN INSTITUTE OF FINANCE
UNDER THE SUPERVISION OF
Mr. NAVIN NAMBIAR
ASST. GENERAL MANAGER
DEPARTMENT OF BANKING SUPERVISION
RBI, NEW DELHI
DECLARATION
I hereby declare that this report on “EFFECTIVENESS OF SARFAESI ACT AND DRT IN LOAN RECOVERY” has been written and prepared by me during the academic year 2010-2011.This project was done under the able guidance and supervision of Mr. Navin Nambiar, AGM, RBI, New Delhi in partial fulfilment of the requirement for the Management of Business Finance Degree course of the Indian Institute of Finance. I declare that the form and the content of the project are original and have not been submitted in part or full, for any other degree or diploma of this or any other Organization/ Institute/ University.
Signature:
Name: Rahul Nigam
Enrollment No.: 4109043043
PREFACE
Finance is one of the most volatile area and every time there is a change, it is important to know about each and every change to keep a track with the changing world. Banking is one of the important part of finance. Recovery Management is the process of planning, testing, and implementing the recovery procedures and standards required to restore service in the event of a component failure; either by returning the component to normal operation, or taking alternative actions to restore service. Recovery Management is the acknowledgement that failures will occur regardless of how well the system is designed. The intent is to anticipate and minimize the impact of these failures through the implementation of predefined, pretested, documented recovery plans and procedures. The primary objective of Recovery Management is to ensure that service level requirements are achieved. This is accomplished by having recovery procedures in place that will restore
EFFECTIVNESS OF SARFAESI ACT AND DRT IN LOAN RECOVERY PROCESS
UNDERTAKEN AS A PART OF
MANAGEMENT OF BUSINESS FINANCE
SUBMITTED BY:
RAHUL NIGAM
INDIAN INSTITUTE OF FINANCE
UNDER THE SUPERVISION OF
Mr. NAVIN NAMBIAR
ASST. GENERAL MANAGER
DEPARTMENT OF BANKING SUPERVISION
RBI, NEW DELHI
DECLARATION
I hereby declare that this report on “EFFECTIVENESS OF SARFAESI ACT AND DRT IN LOAN RECOVERY” has been written and prepared by me during the academic year 2010-2011.This project was done under the able guidance and supervision of Mr. Navin Nambiar, AGM, RBI, New Delhi in partial fulfilment of the requirement for the Management of Business Finance Degree course of the Indian Institute of Finance. I declare that the form and the content of the project are original and have not been submitted in part or full, for any other degree or diploma of this or any other Organization/ Institute/ University.
Signature:
Name: Rahul Nigam
Enrollment No.: 4109043043
PREFACE
Finance is one of the most volatile area and every time there is a change, it is important to know about each and every change to keep a track with the changing world. Banking is one of the important part of finance. Recovery Management is the process of planning, testing, and implementing the recovery procedures and standards required to restore service in the event of a component failure; either by returning the component to normal operation, or taking alternative actions to restore service. Recovery Management is the acknowledgement that failures will occur regardless of how well the system is designed. The intent is to anticipate and minimize the impact of these failures through the implementation of predefined, pretested, documented recovery plans and procedures. The primary objective of Recovery Management is to ensure that service level requirements are achieved. This is accomplished by having recovery procedures in place that will restore
References: Establishment The Reserve Bank of India was established on April 1, 1935 in accordance with the provisions of the Reserve Bank of India Act, 1934 Manager of Foreign Exchange • Manages the Foreign Exchange Management Act, 1999.