Banking Awareness Test for IBPS, RBI, SBI, NABARD & other Bank Examinations

Q.  Liberalized Exchange Rate Management System (LERMS) is effective from which of the following dates?

a. June 1,1993
b. March1,1993
c. April1,1993
d. July 1,1993


ANSWER: See Answer
 
Liberalized Exchange Rate Management System (LERMS) involving the dual exchange rate was instituted after the recommendations of C. Ranagarajan Committee. It is effective from March 1, 1993.
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