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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Q:

Who launched ‘National Biopharma mission’ named ‘i3’ in June, 2017?

A) Piyush Goyal	B) Rajnath Singh
C) Dr. Harsh Vardhan	D) Arun Jaitley

Answer & Explanation Answer: C) Dr. Harsh Vardhan

Explanation:

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Q:

The constitution of India was framed by:

A) Planning Commission	B) Constituent Assembly
C) President	D) Working Committee

Answer & Explanation Answer: B) Constituent Assembly

Explanation:

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Filed Under: Indian Politics
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Q:

The operational period of 12th Five Year Plan is

A) 2007-12	B) 2012-17
C) 2015-20	D) 2005-10

Answer & Explanation Answer: B) 2012-17

Explanation:

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Q:

Which of the following planet is also known as 'Earth's twin'?

A) Mercury	B) Venus
C) Jupiter	D) Saturn

Answer & Explanation Answer: B) Venus

Explanation:

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Filed Under: General Science
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Q:

In the names Mangifera indica (mango), Solanum tuberosum (potato) and Panthera leo (lion), what does the three names, indica, tuberosum and leo, represent?

A) Binomial Nomenclature	B) Taxonomic Hierarchy
C) Identification	D) Specific Epithet

Answer & Explanation Answer: D) Specific Epithet

Explanation:

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Q:

Which one of the following is not a property of electromagnetic waves?

A) Electromagnetic waves do not show interference and diffraction.	B) Oscillating electric field and magnetic field are perpendicular to each other.
C) Electromagnetic waves are transverse waves	D) Electromagnetic waves do not require a medium to propagate.

Answer & Explanation Answer: A) Electromagnetic waves do not show interference and diffraction.

Explanation:

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Filed Under: Physics
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Q:

What type of lens is used to correct vision of a person suffering from Myopia?

A) Convex lens	B) Concave lens
C) Crossed lens	D) Cylindrical lens

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