Discussion Forum : Nabard & Other Bank Examinations
Question - Liberalized Exchange Rate Management System (LERMS) is effective from which of the following dates?
Options:
A .  June 1,1993
B .  March1,1993
C .  April1,1993
D .  July 1,1993
Answer: Option B
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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