FEMA signifies ___________.

Free Export Management Act

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Foreign Exchange Management Act

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Foreign Exchange Monitoring Act

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Free Export Marketing Act

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Solution

The correct option is B Foreign Exchange Management Act
The (Foreign Exchange Management Act, 1999) (FEMA) is an Act of the Parliament of India "to consolidate and amend the law relating to foreign exchange with the objective of facilitating external trade and payments and for promoting the orderly development and maintenance of foreign exchange market in India".This act makes offences related to foreign exchange civil offenses. It extends to the whole of India.

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Similar questions

1.

1991

2.

List - I	List - II
(a) Industries Development Regulation Act	(i) $1947$
(b) Import and Export Control Act	(ii) $1948$
(c) Foreign Exchange Management Act	(iii) $1951$
(d) Factories Act	(iv) $1999$

Q. With reference to the Foreign Exchange Management Act (FEMA), consider the following statements:

Which of the statements given above is/are correct?

Consider the following statements with reference to FEMA in India:

Choose the correct statement(s):

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