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The types of loans that are not covered under the SARFAESI Act.

1. Personal loans Personal loans are unsecured loans, which means that they are not backed by any collateral. The SARFAESI Act is only applicable to loans that are secured by collateral such as property, stocks, or bonds. Therefore, personal loans are not covered under the SARFAESI Act.

2. Credit card debt Credit card debt is also unsecured debt, and therefore, not covered under the SARFAESI Act. However, credit card companies can still take legal action to recover their outstanding debt through other means.

3. Educational loans Educational loans are another type of unsecured loan and are not covered under the SARFAESI Act. However, banks and financial institutions can still take legal action to recover the outstanding debt.

4. Agricultural loans Agricultural loans are also exempt from the SARFAESI Act. The reason for this exemption is to protect the interest of farmers, who may not have sufficient assets to offer as collateral. Instead, agricultural loans are covered under the Reserve Bank of India's Debt Relief Scheme.

5. Loans below a certain amount Loans below a certain amount are also exempt from the SARFAESI Act. The threshold amount is decided by each bank or financial institution and may vary. Typically, loans below Rs. 1 lakh are not covered under the SARFAESI Act.

In conclusion, the SARFAESI Act is not applicable to all types of loans. Personal loans, credit card debt, educational loans, agricultural loans, and loans below a certain amount are exempt from the act. It is important to understand which loans are covered under the SARFAESI Act to avoid any confusion or legal issues in the future.