Introduction:

Sarfaesi Act Section 20B marks a strategic move, granting the Central Government the authority to delegate powers related to the Central Registry's establishment, operations, and regulation. This article delves into the intricacies of this delegation, exploring how the Reserve Bank emerges as the designated entity to wield these powers. As the recipient of this authority, the Reserve Bank navigates the responsibilities outlined in this chapter, operating within a framework defined by specific terms and conditions set by the Central Government. Witness the synergy between regulatory efficiency and institutional expertise as we dissect the nuances of Section 20B.

 Delegation of Powers:

•    The Sarfaesi Act Section 20B authorizes the Central Government to delegate its powers and functions concerning the establishment, operations, and regulation of the Central Registry.
•    This delegation is executed through an official notification issued by the Central Government.

 Recipient of Delegated Powers:

•    The Reserve Bank is identified as the recipient of these delegated powers.
•    The Reserve Bank becomes the designated entity to handle the responsibilities outlined in this chapter of the Sarfaesi Act, 2002.

Conditions and Terms

• The delegation of powers is subject to specific terms and conditions as determined and prescribed by the Central Government.
• These terms and conditions serve as the framework within which the Reserve Bank operates the Central Registry.

This provision acknowledges the efficiency and expertise of the Reserve Bank in managing the intricacies of the Central Registry, streamlining the administrative processes under the Sarfaesi Act