The SARFAESI Act, 2002 primarily deals with: MCQ with Answer and Explanation

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The SARFAESI Act, 2002 primarily deals with:

A. recovery of non-performing assets and securitization

B. payment systems

C. bank nationalization

D. microfinance regulation

Answer: Option A

Solution (By JKSSB Mock Tests)

SARFAESI Act enables banks and financial institutions to recover non-performing assets.

This question belongs to: Economy GK Economy Set 1

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Practice More Economy Set 1 Questions

Question #1

The 'Paramparagat Krishi Vikas Yojana' promotes:

A. organic farming

B. GM crops

C. chemical farming

D. hydroponics only

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Correct Answer: Option A

Explanation:
PKVY promotes organic farming through cluster-based approach.

This question belongs to: Economy GK Economy Set 1

Question #2

In the context of behavioural public finance, 'Tax Salience' refers to:

A. Only the statutory tax rate

B. Only the progressivity of the tax

C. Only the administrative cost of the tax

D. The degree to which a tax is noticed and taken into account by decision-makers

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Correct Answer: Option D

Explanation:
Tax salience measures how visible or noticeable a tax is to the agents who pay it; less salient taxes tend to produce smaller behavioural responses than more salient ones of equal magnitude.

This question belongs to: Economy GK Economy Set 1

Question #3

The 'Aadhaar' number in India is issued by:

A. Income Tax Department

B. Unique Identification Authority of India

C. Ministry of Finance

D. RBI

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Correct Answer: Option B

Explanation:
Aadhaar is issued by UIDAI.

This question belongs to: Economy GK Economy Set 1

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