Bank Exams 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
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Q:

Equus Caballus is the scientific name of _________.

A) Horse B) Zebra
C) Donkey D) Buffalo
 
Answer & Explanation Answer: A) Horse

Explanation:
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Filed Under: General Science
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Q:

The point P (a,b) is first reflected in origin to P1 and P1 is reflected in Y­axis to (4,­3). The co­-ordinates of point P are

A) (4,3) B) (-­4,3)
C) (­-3,4) D) (3,­-4)
 
Answer & Explanation Answer: A) (4,3)

Explanation:
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Filed Under: Simplification
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Q:

Find arc elasticity of demand, if quantity demanded falls from 4600 to 4200 when price of the item is increased from Rs 960 to Rs 1000?

A) -2.23 B) -­2.09
C) 2.23 D) 2.09
 
Answer & Explanation Answer: A) -2.23

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

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Q:

A series is given with one term missing. Choose the correct alternative from the given ones that will complete the series.

13, 24, 46, 79, ?

 

A) 123 B) 120
C) 133 D) 151
 
Answer & Explanation Answer: A) 123

Explanation:
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Filed Under: Number Series
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Q:

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

Evening prayer in church

A) Sheath B) Jig
C) Waltz D) Vespers
 
Answer & Explanation Answer: D) Vespers

Explanation:
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Filed Under: English
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Q:

The point R(a,b) is first reflected in origin to R1 and R1 is reflected in x-axis to (-3,4). The co-ordinates of point R are

A) (3,4) B) (-3,-4)
C) (-3,4) D) (3,-4)
 
Answer & Explanation Answer: A) (3,4)

Explanation:
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Q:

Mother Teresa won Nobel Prize for?

A) Literature B) Physics
C) Peace D) Economic Studies
 
Answer & Explanation Answer: C) Peace

Explanation:
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Filed Under: Honours and Awards
Exam Prep: Bank Exams

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