New Enroll in RBI Grade B New Batch - Starts on May 21

    Question

      Under the Arbitration and Conciliation Act, 1996,

    what is the primary purpose of arbitration?
    A To provide a forum for negotiation Correct Answer Incorrect Answer
    B To decide criminal disputes voluntarily Correct Answer Incorrect Answer
    C To decide criminal and civil disputes voluntarily Correct Answer Incorrect Answer
    D To resolve civil disputes outside of court voluntarily Correct Answer Incorrect Answer
    E None of the above Correct Answer Incorrect Answer

    Solution

    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: