General Awareness · Banking Financial Awareness

Regulatory Thresholds and Caps in India

860 Questions

Regulatory Thresholds and Caps in India refer to the statutory limits imposed on finance, taxation, and corporate governance. It covers sectoral caps, expenditure limits, and penalty thresholds defined by law. These questions are crucial for banking, accounting, and civil services exams.

Financial limitsTax deductionsCorporate regulationsElectoral thresholdsPenalties and fines

Regulatory Thresholds and Caps in India Questions

Multiple choice

What is the maximum amount that a resident individual can remit abroad for maintenance of close relatives abroad under the LRS?

  1. $50,000 per financial year
  2. $25,000 per financial year
  3. $10,000 per financial year
  4. $35,000 per financial year
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

A resident individual can remit up to $50,000 abroad for maintenance of close relatives abroad under the LRS per financial year.

Multiple choice

What is the maximum amount that a resident individual can remit abroad for travel purposes under the LRS?

  1. $10,000 per financial year
  2. $5,000 per financial year
  3. $2,500 per financial year
  4. $7,500 per financial year
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

A resident individual can remit up to $10,000 abroad for travel purposes under the LRS per financial year.

Multiple choice

What is the maximum amount that a resident individual can remit abroad for gifts under the LRS?

  1. $25,000 per financial year
  2. $15,000 per financial year
  3. $10,000 per financial year
  4. $20,000 per financial year
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

A resident individual can remit up to $25,000 abroad for gifts under the LRS per financial year.

Multiple choice

What is the maximum FDI limit for the retail sector in India?

  1. 51%

  2. 100%

  3. 74%

  4. 49%
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

The maximum FDI limit for the retail sector in India is 51%, which means that foreign companies can own up to 51% of an Indian retail company.

Multiple choice

What are the eligibility criteria for becoming an Authorised Dealer in India?

  1. Being a bank or financial institution

  2. Having a net worth of at least Rs. 100 crore

  3. Having a track record of compliance with FEMA regulations

  4. All of the above
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

To become an Authorised Dealer in India, an entity must be a bank or financial institution, have a net worth of at least Rs. 100 crore, and have a track record of compliance with FEMA regulations.

Multiple choice

What is the maximum amount of funding that can be awarded to a single research project under ICSSR's program?

  1. ₹5 lakhs

  2. ₹10 lakhs

  3. ₹15 lakhs

  4. ₹20 lakhs
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

The maximum amount of funding that can be awarded to a single research project under ICSSR's program is ₹15 lakhs.

Multiple choice

What is the maximum amount of financial assistance that a dance academy can receive under the Nritya Kala Anudan Yojana?

  1. Rs. 1 lakh

  2. Rs. 2 lakh

  3. Rs. 3 lakh

  4. Rs. 4 lakh
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

The maximum amount of financial assistance that a dance academy can receive under the Nritya Kala Anudan Yojana is Rs. 2 lakh.

Multiple choice

The AICTE Pragati Scholarship Scheme provides scholarships to students pursuing professional degrees in engineering, technology, architecture, and town planning. What is the maximum scholarship amount provided under this scheme?

  1. Rs. 30,000 per annum

  2. Rs. 50,000 per annum

  3. Rs. 75,000 per annum

  4. Rs. 1,00,000 per annum
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

The AICTE Pragati Scholarship Scheme provides a scholarship amount of Rs. 30,000 per annum to students pursuing professional degrees in engineering, technology, architecture, and town planning.

Multiple choice

The Indian Council of Social Science Research (ICSSR) Doctoral Fellowship Scheme provides scholarships to students pursuing doctoral research in social sciences. What is the maximum scholarship amount provided under this scheme?

  1. Rs. 25,000 per month

  2. Rs. 30,000 per month

  3. Rs. 35,000 per month

  4. Rs. 40,000 per month
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

The Indian Council of Social Science Research (ICSSR) Doctoral Fellowship Scheme provides a scholarship amount of Rs. 35,000 per month to students pursuing doctoral research in social sciences.

Multiple choice

The Prime Minister's Scholarship Scheme (PMSS) provides scholarships to meritorious students from economically weaker sections of society. What is the minimum annual family income limit for eligibility under PMSS?

  1. Rs. 1 lakh

  2. Rs. 2 lakhs

  3. Rs. 3 lakhs

  4. Rs. 4 lakhs
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

The minimum annual family income limit for eligibility under the Prime Minister's Scholarship Scheme (PMSS) is Rs. 2 lakhs.

Multiple choice

The National Scholarship Scheme for Persons with Disabilities (NSPPD) provides scholarships to students with disabilities pursuing professional degrees. What is the maximum scholarship amount provided under NSPPD?

  1. Rs. 20,000 per annum

  2. Rs. 30,000 per annum

  3. Rs. 40,000 per annum

  4. Rs. 50,000 per annum
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

The maximum scholarship amount provided under the National Scholarship Scheme for Persons with Disabilities (NSPPD) is Rs. 50,000 per annum.

Multiple choice

What is the maximum amount of money that a student can borrow in federal student loans?

  1. $27,000
  2. $31,000
  3. $35,000
  4. $40,000
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

The maximum amount of money that a student can borrow in federal student loans is $31,000 for undergraduate students and $57,500 for graduate students.

Multiple choice

What is the maximum permissible FDI limit in the insurance sector in India?

  1. 26%

  2. 49%

  3. 74%

  4. 100%
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

The maximum permissible FDI limit in the insurance sector in India is 49%, as per the current regulations.

Multiple choice

What are the limits on the amount of foreign exchange that can be borrowed under the Foreign Exchange Management (Borrowing and Lending in Foreign Exchange) Regulations, 2000?

  1. There are no limits

  2. The limits are determined by the Reserve Bank of India

  3. The limits are determined by the Ministry of Finance

  4. The limits are determined by the Foreign Investment Promotion Board
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

The limits on the amount of foreign exchange that can be borrowed under the Foreign Exchange Management (Borrowing and Lending in Foreign Exchange) Regulations, 2000 are determined by the Reserve Bank of India.

Multiple choice

What is the application fee for Maharashtra PGCET?

  1. Rs. 1000

  2. Rs. 1500

  3. Rs. 2000

  4. Rs. 2500
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

The application fee for Maharashtra PGCET is Rs. 1500.