Foreign Exchange Regulations in India - Enterslice Share
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- Published date: July 13, 2021
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- Noida, Noida, Uttar Pradesh, India
The Foreign Exchange Regulation Act(FERA) of 1973 was repealed In 1999, and the Foreign Management Act of 1999 was enacted in its place (FEMA). The Indian Parliament passed FEMA, which went into effect on June 1, 2000. FEMA was created to address all of FERA's shortcomings and loopholes. As a result, the FEMA Act included a number of substantial modifications. The primary goal of the FEMA Act was to assist the orderly development, external payments, and maintenance of India's foreign currency market.
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