An asset is classified as a Non-Performing Asset when interest or principal remains overdue for: MCQ with Answer and Explanation

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An asset is classified as a Non-Performing Asset when interest or principal remains overdue for:

A. 30 days

B. 180 days

C. 60 days

D. 90 days

Answer: Option D

Solution (By JKSSB Mock Tests)

An asset becomes an NPA when interest or principal is overdue for more than 90 days.

This question belongs to: Economy GK Economy Set 1

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Question #1

The 'balance of payments' crisis of 1991 in India was partly caused by:

A. fiscal surplus

B. high oil import bill and declining remittances

C. high exports

D. high foreign exchange reserves

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Correct Answer: Option B

Explanation:
The 1991 BoP crisis was triggered by high oil prices, declining remittances and low reserves.

This question belongs to: Economy GK Economy Set 1

Question #2

The 'Uncovered Interest Parity' condition states that:

A. interest rates are equal across countries

B. inflation rates are equal across countries

C. expected exchange rate changes offset interest rate differentials

D. capital flows are zero

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Correct Answer: Option C

Explanation:
Uncovered interest parity says the expected exchange rate change equals the interest rate differential.

This question belongs to: Economy GK Economy Set 1

Question #3

The 'Wholesale Price Index' is used in India for:

A. pension calculation

B. wage revision

C. measurement of inflation at wholesale level

D. income tax

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Correct Answer: Option C

Explanation:
WPI measures inflation at the wholesale level.

This question belongs to: Economy GK Economy Set 1

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