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. 60 days

B. 30 days

C. 180 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

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Which of the following measures of money supply in India is known as 'narrow money'?

A. M4

B. M1

C. M2

D. M3

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Correct Answer: Option B

Explanation:
M1 is referred to as narrow money and consists of currency with the public, demand deposits with banks, and other deposits with RBI. M3 is broad money.

This question belongs to: Economy GK Economy Set 1

Question #2

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The 'government route' for FDI requires:

A. prior approval from the government

B. only RBI approval

C. no approval

D. only SEBI approval

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Correct Answer: Option A

Explanation:
Government route requires prior approval from the concerned government ministry.

This question belongs to: Economy GK Economy Set 1

Question #3

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The 'Goods and Services Tax' was first introduced in India through which amendment?

A. 99th Constitutional Amendment

B. 102nd Constitutional Amendment

C. 100th Constitutional Amendment

D. 101st Constitutional Amendment

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Correct Answer: Option D

Explanation:
GST was introduced through the 101st Constitutional Amendment Act, 2016.

This question belongs to: Economy GK Economy Set 1

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