Remittances — MCQ Practice
Interactive MCQ Practice
Test your knowledge. Click “Solve” to reveal options, select your answer, then check the result. 5 questions available.
Consider the following statements about remittances to India: 1. India is the largest recipient of remittances globally 2. Remittances are recorded under the capital account of Balance of Payments 3. The Gulf Cooperation Council countries are the largest source of remittances to India 4. Remittances create future repayment obligations like foreign debt Which of the statements given above are correct?
The Liberalized Remittance Scheme (LRS) allows resident Indians to remit money abroad. What is the current annual limit under LRS?
Which of the following best explains why remittances are considered more stable than Foreign Institutional Investment (FII) flows?
Consider the following statements about the impact of remittances on India's economy: 1. Remittances help reduce current account deficit 2. They contribute to financial inclusion in rural areas 3. Remittances have a multiplier effect on local economies 4. They are primarily used for productive investments Which of the statements given above are correct?
The term 'hawala' in the context of remittances refers to: