The 'Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act' was enacted in which year? MCQ with Answer and Explanation

Question

The 'Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act' was enacted in which year?

A. 1999

B. 2010

C. 2002

D. 2005

Answer: Option C

Solution (By JKSSB Mock Tests)

SARFAESI Act was enacted in 2002.

This question belongs to: Economy GK Economy Set 1

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Question #1

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Which of the following is the correct classification of loans under the Pradhan Mantri Mudra Yojana?

A. Shishu, Kishor, Tarun

B. Start-up, Growth, Mature

C. Small, Medium, Large

D. Primary, Secondary, Tertiary

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Correct Answer: Option A

Explanation:
MUDRA loans are classified as Shishu, Kishor and Tarun.

This question belongs to: Economy GK Economy Set 1

Question #2

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The 'Banking Ombudsman' is appointed for a tenure of:

A. 3 years

B. 5 years

C. 6 years

D. 1 year

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Correct Answer: Option A

Explanation:
Banking Ombudsmen are appointed for a three-year term.

This question belongs to: Economy GK Economy Set 1

Question #3

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In the context of money market, Treasury Bills are issued by:

A. Stock exchanges

B. Private corporations

C. Reserve Bank of India on behalf of the government

D. Commercial banks

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Correct Answer: Option C

Explanation:
Treasury Bills are short-term instruments issued by the RBI on behalf of the Government of India to meet short-term funding requirements.

This question belongs to: Economy GK Economy Set 1

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