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. Interest is paid regularly

B. The borrower has excess collateral

C. The asset generates continuous income

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 'Minimum Wages Act' in India was enacted in which year?

A. 1950

B. 1948

C. 1947

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Correct Answer: Option B

Explanation:
The Minimum Wages Act was enacted in 1948.

This question belongs to: Economy GK Economy Set 1

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According to the law of diminishing marginal utility, as a consumer increases consumption of a commodity, the marginal utility derived from each additional unit:

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Correct Answer: Option B

Explanation:
The law of diminishing marginal utility states that as more units are consumed, the additional satisfaction from each extra unit eventually decreases.

This question belongs to: Economy GK Economy Set 1

Question #3

The 'Consumer Expenditure Survey' in India is conducted by:

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Correct Answer: Option B

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

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