The SARFAESI Act of 2002 is, by the standards of most countries, very pro-  1  Supreme Court, January 22, 2013 in Union of India v. DRT Bar Association  BIS central bankers’ speeches  3  creditor as it is written. This was probably an attempt by legislators to reduce the burden on DRTs and force promoters to pay.
In the context of rising interest rates, the growth of household borrowing has shown signs of stabilisation in recent months, albeit at very high growth rates. By contrast, the growth of borrowing by non-financial corporations continues to trend upwards and has now reached rates of over 12% on an annual basis, the highest seen since the early 1990s.