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:

Project 'Sankalp' started for the purpose____________

A) To eradicate illiteracy B) To eradicate Polio
C) To eliminate AIDS/HIV D) To eliminate unemployment
 
Answer & Explanation Answer: C) To eliminate AIDS/HIV

Explanation:
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Q:

Which of the following will cause an increase in the demand for coffee?

A) Price of coffee falling in foreign markets B) Coffee prices are expected to fall rapidly in domestic markets
C) Average income falls in the country D) Increase in price of tea
 
Answer & Explanation Answer: D) Increase in price of tea

Explanation:
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Exam Prep: Bank Exams

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Q:

 In August 2017, Indian Government has launched a portal to provide a platform to sell agricultural produce called ‘e-RAKAM’. What does ‘M’ stand for?

A) Market B) Mandi
C) Management D) Messaging
 
Answer & Explanation Answer: B) Mandi

Explanation:
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Q:

The basic concept of Montessori education is

A) Discovery by travelling B) Dreaming
C) Communicating D) Self-discovery through experiment
 
Answer & Explanation Answer: D) Self-discovery through experiment

Explanation:
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Q:

Who among the following was honored with the "Hridaynath Mangeshkar Award-2017" in October 2017?

A) Salim Khan B) Javed Akhtar
C) Nana Patekar D) Mahesh Bhatt
 
Answer & Explanation Answer: B) Javed Akhtar

Explanation:
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Filed Under: Honours and Awards
Exam Prep: Bank Exams

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Q:

Battle of Panipat was fought in the year 1526 between Babur and _________.

A) Rana Sanga B) Muhammad Bin Tughlak
C) Hemu D) Ibrahim Lodi
 
Answer & Explanation Answer: D) Ibrahim Lodi

Explanation:
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Filed Under: Indian History
Exam Prep: AIEEE , Bank Exams , CAT

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Q:

It takes eight hours for a 600 km journey, if 120 km is done by train and the rest by car. It takes 20 minutes more, if 200 km is done by train and the rest by car. The ratio of the speed of the train to that of the car is:

A) 3:5 B) 3:4
C) 4:3 D) 4:5
 
Answer & Explanation Answer: B) 3:4

Explanation:
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