Vol.(4) 2026: IBPS’ Bank Law Officer Entrance/ Promotion Exam- (1-Liners)

Date of Upload: 03.10.2026

1. The expression “Non-Performing Asset” (NPA) is defined under Section______of the SARFAESI Act, 2002—Section 2(o).
2. A person liable to the originator, whether under a contract or otherwise, to pay a financial asset or to discharge any obligation in respect of a financial asset, whether existing, future, conditional or contingent and includes the borrower, is known as—Obligor. [Refer Section 2(q) of SARFAESI Act, 2002]
3. The owner of a financial asset which is acquired by an asset reconstruction company (ARC) for the purpose of securitisation or asset reconstruction is known as—Originator. [Refer Section 2(r) of SARFAESI Act, 2002]
4. The property on which security interest is created, is called—Secured Asset. [Refer Section 2(zc) of SARFAESI Act, 2002]
5. A debt which is secured by any security interest, is called—Secured Debt. [Refer Section 2(ze) of SARFAESI Act, 2002].
6. The Division Bench of the Supreme Court has recently (2026) in which case held that a challenge to action taken under the SARFAESI Act can be pursued only through the remedies provided by the Act, while civil courts cannot entertain matters that the Debt Recovery Tribunal (DRT) or Debt Recovery Appellate Tribunal (DRAT) is empowered to determine—International Asset Reconstruction Co. Pvt. Ltd. Versus Jayant Vitamins Ltd. & Anr. [SLP(C) NO.12913/2024]
7. The expression “Debt” is defined under Section______of the Recovery of Debts and Bankruptcy Act, 1993 (RDBA)—Section 2(g)
8. A lease under a lease agreement of tangible asset, other than negotiable instrument or negotiable document, for transfer of lessor’s right therein to the lessee for a certain time in consideration of payment of agreed amount periodically and where lessee becomes the owner of the such assets at the expiry of the term of lease or on payment of the agreed residual amount, as the case may be, is known as—Financial Lease. [Refer Section 2(ha) of Recovery of Debts and Bankruptcy Act, 1993].
9. The Presiding Officer (PO) of a Debt Recovery Tribunal (DRT) shall hold office for a term of _______ years from the date on which he enters upon his office—5-Years. [Refer Section 6 of Recovery of Debts and Bankruptcy Act, 1993].
10. True/ False: The Presiding Officer (PO) of a Debt Recovery Tribunal (DRT) shall be eligible for reappointment—True. [Refer Section 6 of Recovery of Debts and Bankruptcy Act, 1993].
11. The Presiding Officer (PO) of a Debt Recovery Tribunal (DRT) shall hold office upto the age of ________years—65 Years. [Refer Section 6 of Recovery of Debts and Bankruptcy Act, 1993].
12. True/ False: As per Insolvency and Bankruptcy Code, 2016 (IBC), “Charge” includes “mortgage”—True. [Refer Section 3(4) of Insolvency and Bankruptcy Code, 2016 (IBC)].
13. The minimum pecuniary jurisdiction (triggering of insolvency proceedings) of the National Company Law Tribunal (NCLT) is Rs._____?—Rs. 1- Crore. [Refer Section 4 of Insolvency and Bankruptcy Code, 2016. Originally, it was Rs. 1-Lakh and was increased to Rs. 1 crore vide MCA Notification S.O. 1205(E) dated 24.03.2020.].
14. Section 14 of the Insolvency and Bankruptcy Code, 2016 (IBC) deals with—Moratorium.
15. Section 53 of Transfer of Property Act, 1882 deals with—Fraudulent Transfer.

Copyright@Team LegalMines.com(2026)