You are on page 1of 32

|  

O   




 
 
  
| |
The Foreign Exchange Management Act,
1999 (FEMA) came into force with effect from
June 1, 2000.
With the introduction of the new Act in
place of FERA, certain structural changes
were brought in.
The Act consolidates and amends the law
relating to foreign exchange to facilitate
external trade and payments, and to promote
the orderly development and maintenance of
foreign exchange in India.
ã    

ã     

ã    
       
      
      
     
ã   
 O     
  O 


Ë —   

Î              
            
Î                  
              
      

Ë    

Î                
                 
      
Ë —    

Ë  
             
  
  !  V        
  
                
     "    

         !    
 



   _      _  
 
 
   

     
     
 
 

    


  

     

  

  
    

       
 
      
      

         
  
     


     

! #        ! #       
         
! $      ! $   
      
!    
      ! +      
        
    !       
   %    
     
& #   ' 
       
   (   ) * 
 # "    
         
&                

 # "    * (   )    %  
      

Ë    ,

Î          
Î               
              
Î             -  _
!!!
¢       
Ë  . —  
.           "       
        .        
       

Ë (     
             
             
Ë (  
Î                 
%                 
         .     
#
Î
#                 
            /  0
Ë             1 
2              
   
2    3 %           
                
        
2    3 %          
    "           
      

Ë   4 

Î          "        
                

Î #              
         
Ë —       
           _"     
            

                 

                 
       

!                
        
Ë 
   

#         .     

    .        .
           

5   .     *    .
      
# 

.              
        
Ë $  (   # 6$#(7

                 
             U!#   8  
  

Ë(      * 5    

Î(                  
               

Î!      2  —  4     9 

Î     :    3
   

       
       
       

ã         
     

ã     
      

ã      
      
    
ß         
         
        
 ã     
         
    
    

ß ã         
               
        
 

ß        
       
         
         
        
    
>|   
ß >     

 
      
      
     
       
    
    
ß       
      
   
  
O      
    
      
    
     
    
O   

ß ã    
     

ß ã      
      
 
     
      
        
        
ß ã         
 ã 
        
 

ß ã           
 

ß ã           

ß ã          
           

ß ã           
 

ß ã           
        
      
ß ã           
   

ß ã        

ß ã         
         

ß ã              
         

ß ã         
       

ß ã           
   

ß ã       
ß ã         
          
       
        
       
          
   

ß ã       
          
        
        
           
         
ß ã       
    
     
       
      
        
     
 
O 

ß           
       
       
        
  
ß             
          
         
  
     
O
O
ß          
       
        
    
       

ß          

  
        
  

     
     !
   
     
          
      
       
h      

  
ß        
         
           
      
    
    
      
     
   
     
       
     
       
 
ß        
       
    
        
    
  O 
       
      
       
        
    
±  h       h
 
ß        
    
   
     
       
   
ß          
   
    
       
     
    
ß       
      
        
   
       
       
      
      
       
       
   
        
   
ß         
       
        
   
  ã 
          
     
      
    
ß       
      
      
       
       
     
            
  
]
 h 
 h   
ß        
      
     
 O