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Foreign Exchange Management Act, 1999 (Fema

Foreign Exchange Management Act, 1999 (Fema

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Published by Dhronacharya
A ppt on FEMA act
A ppt on FEMA act

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Categories:Types, Business/Law
Published by: Dhronacharya on Mar 10, 2010
Copyright:Attribution Non-commercial

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05/08/2013

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FOREIGN EXCHANGEMANAGEMENT ACT, 1999(FEMA)
The Act was introduced as a part of liberalization process by the Government of India. The Act came into force on 1
st
June,2000.
 
Back ground
Earlier known as FERA- FOREIGN EXCHANGEREGULATION ACT
Many stringent provisions in FERA.
Liberalization was announced in 1991.
Foreign investment was allowed in all sectors.
Foreign investment flowed.
Hence, to regulate in a more liberalizedmanner, FEMA was enforced in place of FERA
 
OBJECTIVE
TO CONSOLIDATE AND AMEND THELAW RELATING TO FOREIGNEXCHANGE
WITH THE OBJECT OF FACILITATINGEXTERNAL TRADE AND PAYMENTS,AND
PROMOTING THE ORDERLYDEVELOPMENT AND MAINTENANCEOF FOREIGN EXCHANGE MARKETS.

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