<h1>Amendments to SARFAESI and RDDB FI Acts Aim to Speed Up Resolution of Defaulted Loans, Effective August 2016.</h1> The Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SARFAESI Act) and the Recovery of Debts Due to Banks and Financial Institutions Act (RDDB FI Act) have been amended to expedite the resolution of defaulted loans. These amendments are part of The Enforcement of Security Interest and Recovery of Debts Laws and Miscellaneous Provisions (Amendment) Act, 2016, which was officially notified on August 16, 2016. This information was provided by a government official in response to a question in the Lok Sabha.