RBI : Display of information - Secured assets possessed under the SARFAESI Act, 2002

Last updated: 26 September 2023
Quick Summary
The Reserve Bank of India (RBI) has introduced a new regulation aimed at increasing transparency. Regulated Entities (REs), such as banks and financial institutions, that possess secured assets under the SARFAESI Act, 2002, must now display information about the borrowers whose assets have been taken into possession. This information needs to be uploaded to the REs' websites within six months of the circular and updated monthly.

Reserve Bank Of India

RBI/2023-24/63
DoR.FIN.REC.41/20.16.003/2023-24    September 25, 2023

All Commercial Banks including Small Finance Banks, Local Area Banks and Regional
Rural Banks and excluding Payment Banks
All Primary (Urban) Co-operative Banks/ State Co-operative Banks/ Central Cooperative Banks
All India Financial Institutions (Exim Bank, NABARD, NHB, SIDBI and NaBFID)
All Non-Banking Financial Companies including Housing Finance Companies
All Asset Reconstruction Companies

Dear Sir/ Madam

Display of information - 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.

2. REs shall upload this information on their website in the format as prescribed in the Annex. The first such list shall be displayed on the website of REs within six (6) months from the date of this circular, and the list shall be updated on monthly basis.


Yours faithfully,

(J.P. Sharma)
Chief General Manager

Encl: Annex

Information on secured assets possessed under the SARFAESI Act, 2002

Annex

Sl.
No		 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
                       
                       
                       

FAQ :

The RBI has mandated that Regulated Entities (REs) must display information about borrowers whose secured assets have been taken into possession under the SARFAESI Act, 2002.

All commercial banks, small finance banks, local area banks, regional rural banks, co-operative banks, all India financial institutions, non-banking financial companies, housing finance companies, and asset reconstruction companies are required to comply.

The information will be displayed on the respective websites of the Regulated Entities (REs).

The first list must be displayed on the REs' websites within six months from the date of the circular.

The list of information should be updated on a monthly basis.

The displayed information will include details such as branch name, state, borrower name, guarantor name (if applicable), borrower's registered address, guarantor's registered address (if applicable), outstanding amount, asset classification, date of asset classification, and details of the security possessed, including the title holder's name.

 
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