Sarfaesi Act

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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 service to a failing component as quickly as possible.

As a part of MBF programme, a student has to pursue a project duly approved by the Director of the Institute. I had the privilege of undertaking a project on ‘Effectiveness of SARFAESI Act & DRT in loan recovery’ in Reserve bank of India under the guidance of my mentor Mr. Navin Nambiar.

CERTIFICATE OF APPROVAL

The following Summer Internship Report titled "EFFECTIVENESS OF SARFAESI ACT AND DRT IN LOAN RECOVERY" is hereby approved as a certified study in management carried out and presented in a manner satisfactory to warrant its acceptance as a prerequisite for the award of Management in Business Finance (MBF) for which it has been submitted. It is understood that by this approval the undersigned do not necessarily endorse or approve any statement made, opinion expressed or conclusion drawn therein but approve the Summer Internship Report only for the purpose it is submitted

Organizational Guide:

Signature…………………………………………...

Name: Mr. Navin Nambiar

Designation: AGM, Dept. of Banking Supervision

Reserve Bank of India
6th, Sansad Marg, New Delhi

Tel No. 011-23314288
Email: navinnambiar@gmail.com

ACKNOWLEDGEMENT

This formal piece of acknowledgement may not be sufficient to express the feeling of gratitude and affection for those who were associated with the project and without whose cooperation and guidance this project could not have been conducted properly.

I, Rahul Nigam, student of Indian Institute of Finance, is very grateful to Reserve Bank of India, New Delhi for providing me the oppurtunity to undertake this project.

I express my sincere thanks and gratitude to my mentor Mr. Navin Nambiar who guided me throughout the project and helped me think analytically for doing the project. I am thankful to Mr. A.K. Sinha, Mrs. M.Vedavalli & Mr.Sanjeev Sharma who helped me with their valuable inputs during the project. I would also like to thank Mr. Sandeep...
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