REASI, May 24 -- In a significant step towards expediting the resolution of Non-Performing Assets (NPAs) and strengthening coordination between financial institutions and borrowers, the District Magistrate Reasi Nidhi Malik chaired a meeting today to review cases under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest (SARFAESI) Act, 2002.
During the meeting, 5 NPA cases were discussed. District Magistrate emphasized the need for streamlining enforcement procedures and promoting mutual resolution of disputes. She stressed that recovery processes must adhere strictly to legal provisions while upholding the principles of transparency, fairness, and sensitivity, especially in cases involving genuin...