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What are the main Provisions of FEMA 1999?
October 13 What is FEMA? The Foreign Exchange Management Act, or FEMA, is an important law in India that deals with foreign money and investments. It was passed by the Indian Parliament in 1999 and started working from June 1, 2000. FEMA replaced an older, stricter law called FERA (Foreign Exchange Regulation Act, 1973). The main goal of FEMA is to make it easier for India to trade and make payments with other countries, while keeping the foreign exchange market stable and organized. It helps control how foreign money comes in and...
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