CAIIB Paper 4 Module C Quiz 9

The RDB Act contains pre-deposit requirements for appeals, with statutory rules and discretion regarding the amount. The precise provision and current text should be consulted.

Limitation applies to recovery applications as provided by the relevant statutes and principles. Banks should analyse the nature of the claim, accrual, acknowledgment and payments.

Certification helps establish that the produced copy is a true copy of the relevant bank record and meets the statutory evidentiary requirements.

Prima facie evidence is sufficient on its face unless rebutted. It does not prevent a party from challenging the record’s accuracy or legal implications.

The bank should preserve relevant records, validate the legal process and respond within the order’s scope while observing confidentiality and applicable law.

Limitation depends on the instrument and applicable Schedule article, including maturity or demand rules. The Bankers’ Books Evidence Act concerns evidence, not limitation periods.

Section 18 acknowledgment must be made before limitation expires. A separate written promise to pay a time-barred debt under section 25(3) of the Contract Act may require separate analysis.

Regulated entities are expected to cooperate with the complaint-handling process and provide relevant, accurate responses through prescribed channels, subject to applicable law.

The Scheme generally requires the customer to first lodge a complaint with the regulated entity and allow the prescribed response window or receive an unsatisfactory/rejection reply.

The integrated Scheme follows a centralised, jurisdiction-neutral approach to complaint handling for covered regulated entities, subject to its substantive conditions.

Customers should first approach the regulated entity’s grievance redressal mechanism for eligible service issues. Other disputes may belong before different legal forums.

Section 13(2) provides a 60-day demand period before the secured creditor may proceed to measures under section 13(4), if the liabilities are not discharged and other requirements are met.

Section 13(3A) requires the creditor to consider objections and communicate reasons for non-acceptance within 15 days of receipt. This is distinct from taking a section 13(4) measure.

Section 13(4) contains specified enforcement measures relating to secured assets and management. Issuing a passport is unrelated to SARFAESI enforcement.

Sale proceeds are applied in the manner prescribed by the Act and rules, including costs and secured dues. Any surplus is handled for the person legally entitled to it.

Section 34 bars civil court jurisdiction in matters assigned to the DRT/DRAT and restricts injunctions concerning action taken or to be taken under the Act, subject to the statutory scheme.

Eligibility requires a full statutory check: secured creditor status, enforceable security, eligible asset/debt, NPA and notice requirements where applicable, and exclusions/thresholds.

The RDB Act governs DRT recovery applications and recovery certificates for debts due to banks and financial institutions within its scope.

A recovery certificate is executed by the Recovery Officer through the modes authorised by the RDB Act, subject to the statutory process.

The DRAT is the statutory appellate forum for appeals against DRT orders, subject to applicable requirements including limitation and pre-deposit.