{"id":33021,"date":"2024-04-15T09:10:23","date_gmt":"2024-04-15T09:10:23","guid":{"rendered":"https:\/\/exam.pscnotes.com\/mcq\/?p=33021"},"modified":"2024-04-15T09:10:23","modified_gmt":"2024-04-15T09:10:23","slug":"which-of-the-following-statement-is-not-true-with-respect-to-wilful-defaulter","status":"publish","type":"post","link":"https:\/\/exam.pscnotes.com\/mcq\/which-of-the-following-statement-is-not-true-with-respect-to-wilful-defaulter\/","title":{"rendered":"Which of the following statement is not true with respect to wilful defaulter?"},"content":{"rendered":"<p>[amp_mcq option1=&#8221;Financially capable to repay and yet does not do so&#8221; option2=&#8221;One who diverts the funds for purposes other than the fund was availed for&#8221; option3=&#8221;With whom funds are not available in the form of assets as funds have been siphoned off&#8221; option4=&#8221;All are true&#8221; correct=&#8221;option3&#8243;]<!--more--><\/p>\n<p>The correct answer is: C. With whom funds are not available in the form of assets as funds have been siphoned off.<\/p>\n<p>A wilful defaulter is a person who is financially capable of repaying a loan but does not do so. They may also divert the funds for purposes other than the loan was availed for. However, it is not always the case that wilful defaulters will not have any assets. In some cases, they may have siphoned off the funds but still have assets in their name.<\/p>\n<p>Here is a brief explanation of each option:<\/p>\n<ul>\n<li>Option A: Financially capable to repay and yet does not do so. This is the definition of a wilful defaulter.<\/li>\n<li>Option B: One who diverts the funds for purposes other than the fund was availed for. This is another characteristic of a wilful defaulter.<\/li>\n<li>Option C: With whom funds are not available in the form of assets as funds have been siphoned off. This is not always the case with wilful defaulters. They may still have assets in their name, even if they have siphoned off the funds.<\/li>\n<li>Option D: All are true. This is not true, as option C is not always true.<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>[amp_mcq option1=&#8221;Financially capable to repay and yet does not do so&#8221; option2=&#8221;One who diverts the funds for purposes other than the fund was availed for&#8221; option3=&#8221;With whom funds are not available in the form of assets as funds have been siphoned off&#8221; option4=&#8221;All are true&#8221; correct=&#8221;option3&#8243;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[699],"tags":[],"class_list":["post-33021","post","type-post","status-publish","format-standard","hentry","category-banking-and-financial-institutions","no-featured-image-padding"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v22.2 (Yoast SEO v23.3) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Which of the following statement is not true with respect to wilful defaulter?<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/exam.pscnotes.com\/mcq\/which-of-the-following-statement-is-not-true-with-respect-to-wilful-defaulter\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Which of the following statement is not true with respect to wilful defaulter?\" \/>\n<meta property=\"og:description\" content=\"[amp_mcq option1=&#8221;Financially capable to repay and yet does not do so&#8221; 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