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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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Q:

Where was the 'Azad Hind Fauj' founded?

A) Singapore B) Thailand
C) Britain D) Italy
 
Answer & Explanation Answer: A) Singapore

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Q:

Which country topped the list on "World Happiness Index", 2015 published by the sustainable Development Solutions Network (SDSN)?

A) Bhutan B) Switzerland
C) Iceland D) Norway
 
Answer & Explanation Answer: B) Switzerland

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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:

In an optical fibre the signal is transmitted

A) in a straight line path B) In a curved path
C) due to total internal reflection D) Due to refraction
 
Answer & Explanation Answer: D) Due to refraction

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Q:

In _____________ motion of a body its velocity varies with time.

A) uniform B) linear
C) equilibrium D) non-uniform
 
Answer & Explanation Answer: D) non-uniform

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Q:

Ilmenite is an ore/mineral of _________.

A) Titanium B) Copper
C) Lead D) Manganese
 
Answer & Explanation Answer: A) Titanium

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Q:

Which of the following planet is also known as 'Earth's twin'?

A) Mercury B) Venus
C) Jupiter D) Saturn
 
Answer & Explanation Answer: B) Venus

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