45 - Methods of Remittance

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1).
Which out of the following is most popular channel of foreign inward remittances to India?
2).
Which of the following has availed the Liberalised Remittance Scheme?
3).
What is the full form of LRS?
4).
What is LRS a2?
5).
When was Liberalised Remittance Scheme established?
6).
Which of the following was the reason to establish Liberalised Remittance Scheme?
7).
How much money can Residents of India tremit upto?
8).
Liberalised Remittance Scheme is not applicable to which of the following?
9).
Which of the following documents is mandatory for withdrawal/remittance of foreign exchange?
10).
How much Cash pay out can be transferred in India?
1. Which out of the following is most popular channel of foreign inward remittances to India?
[A] SWIFT
[B] Rupee Drawing Arrangement (RDA)
[C] Direct transfers
[D] Cheques and Drafts
2. Which of the following has availed the Liberalised Remittance Scheme?
[A] RBI
[B] NABARD
[C] Government of India
[D] None of the above
3. What is the full form of LRS?
[A] Liberty Remittance Scheme
[B] Liberalized Rupees Scheme
[C] Liberalized Remittance Scheme
[D] None of the above
4. What is LRS a2?
[A] LRS Modulation
[B] LRS activation
[C] LRS Declaration
[D] None of the above
5. When was Liberalised Remittance Scheme established?
[A] February 1th, 2005
[B] February 4th, 2004
[C] February 7th, 2002
[D] February 8th, 2006
6. Which of the following was the reason to establish Liberalised Remittance Scheme?
[A] to permit citizens of India to transfer funds abroad for permitted current or capital account transactions
[B] to permit foreigners to transfer funds abroad for permitted current or capital account transactions
[C] to permit NRI to transfer funds to India for permitted current or capital account transactions
[D] None of the above
7. How much money can Residents of India tremit upto?
[A] $3,50,000
[B] $4,00,000
[C] $2,00,000
[D] $2,50,000
8. Liberalised Remittance Scheme is not applicable to which of the following?
[A] corporates
[B] partnership firms
[C] HUF
[D] All of the above
9. Which of the following documents is mandatory for withdrawal/remittance of foreign exchange?
[A] PAN
[B] Aadhar card
[C] Passport
[D] None of the above
10. How much Cash pay out can be transferred in India?
[A] Rs. 40,000/-
[B] Rs. 50,000/-
[C] Rs. 10,00,000/-
[D] Rs. 10,000/-
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