Understand the Foreign Exchange Management Act (FEMA)
The Foreign Exchange Management Act (FEMA), enacted in 1999, governs foreign exchange transactions in India. FEMA replaced the Foreign Exchange Regulation Act (FERA), aiming to facilitate external trade, payments, and the orderly development of India’s foreign exchange market. This article delves into the key aspects of FEMA, its objectives, regulations, penalties, and recent amendments to […]