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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
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Q:

Acid rain is caused due to pollution of atmosphere by

A)  oxides of nitrogen and sulphur B)  oxides of nitrogen and phosphorous
C) oxides of carbon and nitrogen D)  oxides of nitrogen and methane
 
Answer & Explanation Answer: C) oxides of carbon and nitrogen

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Filed Under: Chemistry
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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

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Filed Under: Biology
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Q:

Which of the following areas or regions is most prone to earthquakes?

A) Deccan Plateau B) Ganga­Brahmaputra Valley
C) Plains of northern India D) Western Ghats
 
Answer & Explanation Answer: B) Ganga­Brahmaputra Valley

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Filed Under: Indian Geography
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Q:

Strait of Gibraltar connects which of the following?

A) Red Sea ­ Mediterranean Sea B) Red Sea ­ Arabian Sea
C) Atlantic Ocean ­ Mediterranean Sea D) Mediterranean Sea ­ Black Sea
 
Answer & Explanation Answer: C) Atlantic Ocean ­ Mediterranean Sea

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Filed Under: Indian Geography
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Q:

Manas Tiger Reserve is in which state?

A) Telangana B) Madhya Pradesh
C) Assam D) Kerala
 
Answer & Explanation Answer: C) Assam

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Filed Under: Indian Geography
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Q:

Features and habits that help animals to adapt to their surroundings are a result of the process of ______________.

A) maturation B) evolution
C) progression D) renewal
 
Answer & Explanation Answer: B) evolution

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Filed Under: Biology
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Q:

Which of the following is a greenhouse gas or a gas which can deplete the ozone layer?

A) Ar B) HN3
C) CO2 D) C4H6
 
Answer & Explanation Answer: C) CO2

Explanation:
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Filed Under: Chemistry
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