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:

To which country, India gave Rs. 35 crore rupees to children of freedom fighters in under the new ‘Muktijodha scholarship' scheme?

A) Nepal B) Bhutan
C) Bangladesh D) Sri Lanka
 
Answer & Explanation Answer: C) Bangladesh

Explanation:
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Filed Under: General Awareness
Exam Prep: Bank Exams

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Q:

Banks earn interest on

A) Deposits B) Loans
C) Demand Drafts D) Bills of Exchange
 
Answer & Explanation Answer: B) Loans

Explanation:
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Filed Under: General Awareness
Exam Prep: Bank Exams

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Q:

A school always has a

A) Library B) Headmaster
C) Teacher D) Building
 
Answer & Explanation Answer: C) Teacher

Explanation:
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Filed Under: General Science
Exam Prep: Bank Exams

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Q:

Which of the following "writ" of the High Court or the Supreme Court is issued to restrain a person from holding a public office which he is not entitled to?

A) Centiorari B) Mandamus
C) Prohibition D) Quo Warranto
 
Answer & Explanation Answer: D) Quo Warranto

Explanation:
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Filed Under: Indian Politics
Exam Prep: Bank Exams

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Q:

The minimum number of members that must be present to hold the meeting of the Lok Sabha is

A)  One­fourth of the total membership B)  One­fourth of the total membership
C)  Fifty percent strength of the Lok Sabha D)  At least hundred members
 
Answer & Explanation Answer: B)  One­fourth of the total membership

Explanation:
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Filed Under: Indian Politics
Exam Prep: Bank Exams

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Q:

In the following question, the sentence given with blank to be filled in with an appropriate word. Select the correct alternative out of the four and indicate it by selecting the appropriate option.

 

One can understand the importance of faith by ______ a world without faith.

 

A) discovering   B) identifying  
C) imagining   D) interpreting
 
Answer & Explanation Answer: C) imagining  

Explanation:
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Filed Under: English
Exam Prep: Bank Exams , GRE , TOEFL

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Q:

In the following question, out of the given four alternatives, select the one which is opposite in meaning of the given word.

 

Grandiose

 

A) Noble B) Impressive
C) Moderate D) Vast
 
Answer & Explanation Answer: C) Moderate

Explanation:
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Filed Under: English
Exam Prep: Bank Exams

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