Questions

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.

The Department of Biotechnology (DBT) of the Ministry of Science and Technology, Government of India, has collaborated with Nobel Media AB, Sweden to hold the Nobel Prize Series in India for five years.

The second edition of the Nobel Prize Series -India 2018 will be held at Panjim, Goain partnership with Government of Goa on February 1-2, 2018. It will start on February 1, 2018 with the formal inauguration of the Nobel Prize Series -India 2018, Science Exhibition by the Hon'ble Chief Minister Mr. Manohar Parrikar.