RBI on Monday asked all the Regulated Entities (REs) of the Reserve Bank to display information on secured assets possessed under the SARFAESI Act, 2002.
“As a part of the move towards greater transparency, it has been decided that the Regulated Entities (REs) of the Reserve Bank which are secured creditors as per the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest (SARFAESI) Act, 2002, shall display information in respect of the borrowers whose secured assets have been taken into possession by the REs under the Act”, it said.
The first such list shall be displayed on the website of REs within six (6) months from the RBI circular dated 25.09.2023, and the list shall be updated on a monthly basis.
Information on secured assets possessed under the SARFAESI Act, 2002 with the following details.
Branch Name, State, Borrower Name, Guarantor Name, (wherever applicable), Registered address of the Borrower, Registered address of the Guarantor (wherever applicable), Outstanding amount (in ₹), Asset Classification, Date of Asset classification, Details of security possessed, Name of the Title holder of the security possessed.
