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Question
FERA was enacted in _______.
FERA was enacted in _______.
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Solution
The correct option is A 1973
The Foreign Exchange Regulation Act was a legislation passed in the year 1973 that imposed strict regulations on certain kinds of payments, the dealings in foreign exchange and securities and the transactions which had an indirect impact on the foreign exchange and import and export of the country. It came into force on 1st january, 1974. Hence, FERA was enacted in 1973.
The Foreign Exchange Regulation Act was a legislation passed in the year 1973 that imposed strict regulations on certain kinds of payments, the dealings in foreign exchange and securities and the transactions which had an indirect impact on the foreign exchange and import and export of the country. It came into force on 1st january, 1974. Hence, FERA was enacted in 1973.
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