Overview Of Foreign Exchange Management Act – FEMA Act
The Foreign Exchange Management Act (FEMA) was introduced by the Government of India in 1999. It replaced the previous Foreign Exchange Regulation Act (FERA) of 1973. The FEMA Act was designed to boost external payments and foreign trades in India. FEMA is a civil law against FERA which was a draconian police law. In essence, FEMA act was a […]