REs Must Display on Their Websites Information of Borrowers Whose Secured Assets are Taken Over Under the SARFAESI Act
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- Last Updated on 27 September, 2023
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Circular No. RBI/2023-24/63 DoR.FIN.REC.41/20.16.003/2023-24; Dated: 25.09.2023
RBI has directed Regulated Entities (REs) which are secured creditors to display information in respect of the borrowers whose secured assets have been taken into possession by them under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest (SARFAESI) Act, 2002. This is a part of move towards greater transparency.
Further, REs must upload the information on their website in the prescribed format. Also, the list of information must be displayed on the website of REs within 6 months from the date of the circular and must be updated on a monthly basis.
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