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.
MCQs:  When did the Banking Regulation Act, 1949 become applicable to the state of Jammu & Kashmir?
Category: Banking Exam Questions,   Published by: teswesm
MCQs:  What is the current FDI limit in private sector banks without government approval?
Category: Banking Exam Questions,   Published by: teswesm
MCQs:  What is the minimum start up capital fixed for Local Area Capital Banks?
Category: Banking Exam Questions,   Published by: teswesm
MCQs:  How much credit small finance banks has to give to priority sectors?
Category: Banking Exam Questions,   Published by: teswesm
MCQs:  Who headed the committee to evaluate the license applications for Payment banks?
Category: Banking Exam Questions,   Published by: teswesm
MCQs:  Which is India’s first Payment bank?
Category: Banking Exam Questions,   Published by: teswesm
MCQs:  Which of these kinds of deposits can be offered by Banking Correspondents?
Category: Banking Exam Questions,   Published by: teswesm
MCQs:  In which year the Royal Commission on Indian Currency and Finance recommended the creation of a central bank for India?
Category: Banking Exam Questions,   Published by: teswesm
MCQs:  What happens when CRR is increased?
Category: Banking Exam Questions,   Published by: teswesm
MCQs:  What is the population limit at a place under which the banks don’t require a license from RBI to open a branch?
Category: Banking Exam Questions,   Published by: teswesm
MCQs:  Which of the following comes under Statutory Pre-emotions?
Category: Banking Exam Questions,   Published by: teswesm
MCQs:  When was the Government Securities Act passed?
Category: Banking Exam Questions,   Published by: teswesm
MCQs:  Which of these banks are authorised to act as the agent of RBI?
Category: Banking Exam Questions,   Published by: teswesm
MCQs:  Why do banks borrow money in the call money market?
Category: Banking Exam Questions,   Published by: teswesm
MCQs:  When was the SARFAESI Act enacted?
Category: Banking Exam Questions,   Published by: teswesm
MCQs:  Which organisation developed BHIM Application?
Category: Banking Exam Questions,   Published by: teswesm
MCQs:  When was UPI service launched?
Category: Banking Exam Questions,   Published by: teswesm
MCQs:  What is the length of UPI pin?
Category: Banking Exam Questions,   Published by: teswesm
MCQs:  Which of the following is/are included in FOREX? 1. Foreign currency assets held by the RBI 2. Gold holdings of the RBI 3. SDRs 4. Reserve position in the IMF
Category: Banking Exam Questions,   Published by: teswesm
MCQs:  Which of the following is facilitated by Foreign Exchange Reserves?
Category: Banking Exam Questions,   Published by: teswesm