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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Exam Prep: Bank Exams

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Q:

The Chairman of the National Disaster Management Authority (NDMA) is

A) National Security Advisor	B) Prime Minister of India
C) Chief of DRDO	D) Home Minister of India

Answer & Explanation Answer: B) Prime Minister of India

Explanation:

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Q:

Shahjahan built the Taj Mahal for?

A) Marjani	B) Mehbooba
C) Mehjabeen	D) Mumtaz

Answer & Explanation Answer: D) Mumtaz

Explanation:

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Q:

Under the ‘National Electric Mobility Mission Plan’, the government wants to see 6-7 million electric and hybrid vehicles on Indian roads from year ______ onwards.

A) 2022	B) 2020
C) 2025	D) 2019

Answer & Explanation Answer: B) 2020

Explanation:

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Q:

In Microsoft Word, _____________ refers to the way our text will look like.

A) Inserting	B) Formatting
C) Cutting	D) Pasting

Answer & Explanation Answer: B) Formatting

Explanation:

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Q:

Which Railway station in Uttar Pradesh (UP) has been renamed as 'Maa Barahi Devi Dham'?

A) Dandupur railway station	B) Amroha railway station
C) Basti railway station	D) Subedarganj railway station

Answer & Explanation Answer: A) Dandupur railway station

Explanation:

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Q:

A raised hammer possesses

A) Kinetic energy	B) Mechanical energy
C) Muscular energy	D) Potential energy

Answer & Explanation Answer: D) Potential energy

Explanation:

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Filed Under: Physics
Exam Prep: Bank Exams , CAT

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Q:

In the following question, out of the four alternatives, select the alternative which will improve the bracketed part of the sentence. In case no improvement is needed, select "no improvement".

Since when (have to start) a business been so easy?

A) has started	B) have starting
C) has starting	D) no improvement

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