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FOREIGN EXCHANGE MANAGEMENT ACT 1999
What is the primary objective of the Foreign Exchange Management Act, 1999?
FEMA aims to facilitate external trade and payments and to promote the orderly development and maintenance of the foreign exchange market in India.
What is the full form of FEMA?
Foreign Exchange Management Act
Which authority administers and enforces FEMA in India?
FEMA is administered by the Reserve Bank of India (RBI) and enforced by the Directorate of Enforcement (ED) under the Ministry of Finance.
Which act did FEMA replace in India?
Foreign Exchange Regulation Act (FERA) 1973
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