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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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Filed Under: General Awareness
Exam Prep: Bank Exams

0 1579
Q:

Which of the following is not a primary function of a bank?

A) Facilitating import of goods B) Remittance facility
C) Safe custody of articles D) Foreign Exchange
 
Answer & Explanation Answer: A) Facilitating import of goods

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

1 1579
Q:

The manufacturer does not want to use it, the buyer does not need to use it and the user does not know he is using it. What is it?

Answer

A coffin was what manufacturer does not want to use it, the buyer does not need to use it and the user does not know he is using it.

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Subject: Word Puzzles Exam Prep: Bank Exams

4 1579
Q:

How many facial bones are there?

A) 34 B) 24
C) 14 D) 4
 
Answer & Explanation Answer: C) 14

Explanation:
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Filed Under: Biology
Exam Prep: Bank Exams

1 1578
Q:

In the following question, out of the four alternatives, select the alternative which is the best substitute of the phrase.

 

Obsession for wine

 

A) Ethnomania B) Oenomania
C) Egomania D) Idolomania
 
Answer & Explanation Answer: B) Oenomania

Explanation:
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Filed Under: English
Exam Prep: Bank Exams

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Q:

In April 2017, the G20 Digital Ministerial Meeting on Digital Economy was held in which country?

A) Italy B) Germany
C) France D) USA
 
Answer & Explanation Answer: B) Germany

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

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Q:

In ΔPQR, S and T are points on side PQ and PR respectively. ST is parallel to QR. If S divides PQ in the ratio 4:1 and length of QR is 15 cm,what is the length of ST?

A) 3 cm B) 5 cm
C) 12 cm D) 10 cm
 
Answer & Explanation Answer: C) 12 cm

Explanation:
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Filed Under: Simplification
Exam Prep: Bank Exams

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Q:

"Earth provides enough to satisfy everyman's need but not everyman's greed". Who said this?

A) Guru Nanak Dev B) Mahatma Gandhi
C) Pope Paul VI D) Smt. Indira Gandhi
 
Answer & Explanation Answer: B) Mahatma Gandhi

Explanation:
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Filed Under: Famous Personalities
Exam Prep: Bank Exams

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