New RBI Grade B 2025 Notification will come Soon! Enroll Here

    Question

    Under the Arbitration and Conciliation Act, 1996, what

    is the primary purpose of arbitration? 
    A To appeal against court judgment. Correct Answer Incorrect Answer
    B To provide a forum for negotiation Correct Answer Incorrect Answer
    C To decide criminal disputes voluntarily Correct Answer Incorrect Answer
    D To decide criminal and civil disputes voluntarily Correct Answer Incorrect Answer
    E To resolve civil disputes outside of court voluntarily Correct Answer Incorrect Answer

    Solution

    Explanation: Arbitration is a method of alternative dispute resolution (ADR) that provides a private and efficient way to resolve civil disputes. It allows parties to submit their disputes to one or more arbitrators who make a binding decision, known as an arbitral award. This process is an alternative to traditional litigation in court and is often chosen for its speed, flexibility, and confidentiality.

    Practice Next

    Relevant for Exams: