Questions

Indian Grandmaster Viswananthan Anand (48 year) has won the World Rapid Chess Championship 2017 in Riyadh, Saudi Arabia. He remained unbeaten throughout the tournament and bags the top position on a tie-break after three-way tie with Vladimir Fedoseev.Note: World Rapid Chess Championship is a tournament to determine the World Champion in Chess played under rapid time controls.

England has won the ‘2017 FIFA Under-17 World Cup’ by defeating European Champions Spain at Salt Lake stadiumin Kolkata. England’s goal-machine Rhian Brewster won the golden boot.

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.