Sawaal

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Q:

Haustoria or sucking roots are found in which of the following?

A) Wheat B) Mango
C) Chestnut D) Cuscuta
 
Answer & Explanation Answer: D) Cuscuta

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Q:

The members of the Rajya Sabha are elected by

A) Elected members of the Legislative Assembly B) Elected members of Legislative Council
C) The people D) Lok Sabha
 
Answer & Explanation Answer: A) Elected members of the Legislative Assembly

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Q:

According to Dr. Ambedkar which Article is the most important article of Indian constitution?

A) Article 21 B) Article 24
C) Article 32 D) Article 256
 
Answer & Explanation Answer: C) Article 32

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Q:

The minimum age limit for the membership of the Vidhan Parishad is _____

A) 21 years B) 25 years
C) 30 years D) 35 years
 
Answer & Explanation Answer: C) 30 years

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Q:

The members of the All India Services serve the

A) Central Government only B) State Government only
C) Union Territories only D) both the Union and State Governments
 
Answer & Explanation Answer: D) both the Union and State Governments

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Q:

What is Damodar Valley Corporation ?

A) Statutory body B) Municipal Corporation looking after Damodar Valley
C) A private enterprise located in Bihar D) A non government organisation
 
Answer & Explanation Answer: A) Statutory body

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Q:

Y. H. Malegam Committee is an expert committee constituted by Reserve Bank Of India to look into which of the following issues?

I. Classification of bad loans

II. Effectiveness of adults

III. Rising incidents of frauds

A) Only I and I B) Only II and II
C) Only I and II D) All I, II and III
 
Answer & Explanation Answer: D) All I, II and III

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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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