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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

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Q:

A piece of paper is folded and punched as shown below in the question figures. From the given answer figures, indicate how it will appear when opened?

A) 1 B) 2
C) 3 D) 4
 
Answer & Explanation Answer: B) 2

Explanation:
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Filed Under: Verbal Reasoning - Mental Ability
Exam Prep: Bank Exams

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Q:

Which of the following is the most important raw material for generation of power in India?

A) Mineral Oil B) Natural Gas
C) Uranium D) Coa
 
Answer & Explanation Answer: D) Coa

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

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Q:

Fire extinguishers emit which gas?

A) Carbon monoxide B) Chlorine
C) Carbon dioxide D) Nitrogen
 
Answer & Explanation Answer: C) Carbon dioxide

Explanation:
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Filed Under: Chemistry
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.

5, 10, 13, 26, 29, 58, 61, ?

A) 122 B) 125
C) 128 D) 64
 
Answer & Explanation Answer: A) 122

Explanation:
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Filed Under: Number Series
Exam Prep: Bank Exams

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Q:

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

1, 0.125, 1/27, 1/64, ? , 1/216

A) 0.025 B) 1/8
C) 1/128 D) 0.008
 
Answer & Explanation Answer: D) 0.008

Explanation:
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Filed Under: Number Series
Exam Prep: Bank Exams

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Q:

Which Fundamental Right in the Indian Constitution prohibits trafficking, forced labour, and children working under 14 years of age?

A) Right to Equality B) Right to Freedom
C) Right against Exploitation D) Right to Freedom of Religion
 
Answer & Explanation Answer: C) Right against Exploitation

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

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Q:

American Presidential elections are held at every __ years?

A) 6 B) 4
C) 2 D) 5
 
Answer & Explanation Answer: B) 4

Explanation:

Presidential elections are held every four years, in years divisible by four, in which electors for President are chosen by the method in the country.

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Filed Under: World History
Exam Prep: AIEEE , Bank Exams , CAT
Job Role: Analyst , Bank Clerk , Bank PO

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