Again, is it just me or does this basic question from "BalajiUthira" seem like it is taken from an assignment or text book? Sounds like they are asking us to complete and answer questions for homework.
Not to offend anyone (as I know there are a lot of newbies on this site like myself) but really? What makes me curious is questions 3 and 4:
what is the effect of smit.cat file ?
What are all the files present in /etc/objrepos/ filesystem related to SMIT rather how and in what means SMIT uses the /etc/objrepos/ filesystem
What is it you are really intending to ask here?
Anyhow - a thanks to allanwang77 should be given for attempting to answer.
Thanks all for the response. actually we are in process of a case study on SMIT. upon which we were not able to find some clues about the queries raised. Hence posted it.