Under NPA classification, a substandard asset is one that has remained NPA for: MCQ with Answer and Explanation

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Under NPA classification, a substandard asset is one that has remained NPA for:

A. only 30 days

B. less than 6 months

C. 12 months or less

D. more than 5 years

Answer: Option C

Solution (By JKSSB Mock Tests)

A substandard asset is one that has remained NPA for up to 12 months.

This question belongs to: Economy GK Economy Set 1

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Tax Deduction at Source means:

A. tax is waived

B. the taxpayer pays tax after assessment

C. tax is paid by the employer after salary payment

D. the payer deducts tax at the time of payment and deposits it with the government

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Correct Answer: Option D

Explanation:
TDS requires the payer to deduct tax at source and deposit it with the government.

This question belongs to: Economy GK Economy Set 1

Question #2

The 'Goods and Services Tax' rate on cement is:

A. 18%

B. 28%

C. 12%

D. 5%

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Correct Answer: Option B

Explanation:
Cement attracts 28% GST.

This question belongs to: Economy GK Economy Set 1

Question #3

The 'Export Import Bank of India' provides:

A. crop loans

B. retail banking

C. export credit and finance

D. microfinance

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Correct Answer: Option C

Explanation:
EXIM Bank provides export credit and finance.

This question belongs to: Economy GK Economy Set 1

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