In the following question, one part of the sentence may have an error. Find out which part of the sentence has an error and click the option corresponding to it. If the sentence is free from error, click the 'No error' option. In a recent conference, (P) / the banks have asked some of the major public sector units (Q) / to clear the debt owned by them at the earliest (R) / No error (S)?

Option 3 : R

Here, the error lies in part R of the question. therefore, the correct answer is option 3.

To owe – to be under a moral obligation to repay.

To own – to hold something in one’s possession.

A debt is a money that when taken needs to be repaid. The public sector units (PSUs) had taken some money as loan from the banks. The banks are asking them to repay. So, the correct word to be used in the given sentence is ‘owed’ and not ‘owned’.

Correct sentence - In a recent conference, the banks have asked some of the major public sector units to clear the debt owed by them at the earliest.