The term 'Non-Performing Asset' in Indian banking is defined as a loan where: MCQ with Answer and Explanation

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The term 'Non-Performing Asset' in Indian banking is defined as a loan where:

A. The borrower has excess collateral

B. The asset generates continuous income

C. Interest is paid regularly

D. Interest or principal is overdue for more than 90 days

Answer: Option D

Solution (By JKSSB Mock Tests)

As per RBI guidelines, a term loan is classified as NPA if interest or instalment of principal remains overdue for a period of more than 90 days.

This question belongs to: Economy GK Economy Set 1

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The 'Pradhan Mantri Jeevan Jyoti Bima Yojana' provides:

A. vehicle insurance

B. crop insurance

C. health insurance

D. life insurance

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Correct Answer: Option D

Explanation:
PMJJBY provides life insurance cover.

This question belongs to: Economy GK Economy Set 1

Question #2

The 'Goods and Services Tax' on passenger transport by air-conditioned buses is:

A. 5%

B. 12%

C. 0%

D. 18%

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Correct Answer: Option A

Explanation:
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This question belongs to: Economy GK Economy Set 1

Question #3

The 'Udyam Registration' portal is used for registration of:

A. MSMEs

B. stock brokers

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D. banks

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Correct Answer: Option A

Explanation:
Udyam Registration is the online registration portal for MSMEs.

This question belongs to: Economy GK Economy Set 1

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