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The document provides an overview of the Foreign Exchange Management Act (FEMA) of India. It discusses how FEMA replaced the older Foreign Exchange Regulation Act (FERA) to liberalize foreign exchange controls and make India more attractive to foreign investors. Some key points: - FEMA was introduced in 1999 to manage foreign exchange transactions rather than strictly regulate them as FERA had done. This made foreign exchange rules more flexible and industry-friendly. - FEMA aims to facilitate external t

Author

Ronaldo Louis

Language

EN