Questions

Q:

LRS is a facility provided by the Reserve Bank of India for all the resident individuals to freely remit a certain amount in terms of US dollar every financial year for a permissible set of current or capital account transactions. Here ‘LRS’ stands for ____.

A) Liquidity Remittance Scheme B) Liberalised Remittance Scheme
C) Liberalised Remittance Source D) Liberalised Revenue Scheme
 
Answer & Explanation Answer: B) Liberalised Remittance Scheme

Explanation:

LRS stands for - Liberalised Remittance Scheme.
LRS is a facility provided by the Reserve Bank of India for all resident individuals to freely remit certain amount in terms of US dollar every financial year for a permissible set of current or capital account transactions.
Note:
* In April 2018, the Reserve Bank of India (RBI) has tightened reporting norms for the Liberalised Remittance Scheme (LRS) under which individual can transfer up to US $2,50,000 abroad in a year.

* The purpose of tightening of norms is to improve monitoring and to ensure compliance with LRS limits.
* The scheme was introduced in February 2004 and its regulations are provided under Foreign Exchange Management Act (FEMA), 1999.

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Filed Under: General Awareness
Exam Prep: Bank Exams

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Q:

With which country India has signed an agreement to renew the supply of Petroleum for a period of 5 years (i.e. till 2022)?

A) Nepal B) U.A.E.
C) Iran D) Bhutan
 
Answer & Explanation Answer: A) Nepal

Explanation:
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Filed Under: General Awareness
Exam Prep: Bank Exams

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Q:

Which was NOT a cause of the Dust Bowl?

A) Drought B) High winds
C) Thick layers of prairie grass D) Overproduction of crops
 
Answer & Explanation Answer: C) Thick layers of prairie grass

Explanation:
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Filed Under: General Science
Exam Prep: Bank Exams

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Q:

In the 42nd Constitutional Amendment 1976, which word was added to the Preamble?

A) Democratic B) Equality
C) Secular D) Socialist
 
Answer & Explanation Answer: C) Secular

Explanation:
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Filed Under: Indian Politics

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Q:

In the following question, out of the four alternatives, select the alternative which is the best substitute of the phrase.

The system which is observed to do progress

A) Violation B) Impairing
C) Preservation D) Reformism
 
Answer & Explanation Answer: D) Reformism

Explanation:
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Filed Under: English
Exam Prep: Bank Exams

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Q:

Blood is red in colour due to the presence of __________

A) Cytochrome B) Chlorophyll
C) Hemocyanin D) Haemoglobin
 
Answer & Explanation Answer: D) Haemoglobin

Explanation:
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Filed Under: Biology
Exam Prep: Bank Exams

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Q:

___________ being a higher category, is the assemblage of families which exhibit a few similar characters.

A) Order B) Species
C) Genus D) Class
 
Answer & Explanation Answer: A) Order

Explanation:
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Filed Under: Biology
Exam Prep: Bank Exams

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Q:

Money market is a market for _______________

A) Short term fund B) Long term fund
C) Negotiable instruments D) Sale of shares
 
Answer & Explanation Answer: A) Short term fund

Explanation:
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Filed Under: Indian Economy

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