General Studies · Leasing and Hire Purchase
Analyze the following statements regarding the types of leasing and their applications. Statement I: A 'Cross Border Lease' occurs when the lessor and the lessee are situated in two different countries, often utilized to take advantage of varying tax laws, depreciation benefits, and interest rate differentials between the two jurisdictions. Statement II: A 'Direct Lease' is a simple two-party arrangement where the lessor buys the asset from a manufacturer or supplier and leases it directly to the lessee, without the involvement of any middleman or complex debt structures. Statement III: Domestic leasing in India is strictly prohibited for public sector banks under all circumstances as per the Banking Regulation Act, 1949, and therefore conducted exclusively by private NBFCs. Which of the following options is true?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
Share:
- 1Only Statement I is correct.
- 2All three statements are correct.
- 3Statements II and III are correct, while Statement I is incorrect.
- 4Statements I and II are correct, while Statement III is incorrect.✓
Correct answer
Statements I and II are correct, while Statement III is incorrect.
Download Single Question PDF
Save this question and verified answer as a clean study sheet with live clickable link.
👥
Share with Friends & Study Groups
Challenge your peer aspirants on WhatsApp or Telegram to solve this question!
Online Test Series
Start Free Mock Test →Preparing for General Studies?
Practice full-length mock tests with real exam timers, instant score analysis, and all-India ranking.
Chapter Practice
Practice Leasing and Hire Purchase MCQs →Want more practice questions on Leasing and Hire Purchase?
Solve complete topic-wise tests with detailed solutions on GkGet.
Related Practice Questions
Recommended practice questions in General Studies · Leasing and Hire Purchase