Amendment to SARFAESI Act taking away RBI’s powers to fix NPA norms for financial institutions is un

SARFAESI : RBI to be restored as regulator for banking, non-banking institutions and securitisation agencies for deciding period after which loans could be treated as NPA; 2004 amendment to Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interests (SARFAESI) Act, 2002 declared unconstitutional and contrary to object of Act