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Foreign Exchange Regulation Act was first introduced in 1947. This was later replaced by The Foreign Exchange Regulation Act (FERA),1973. FERA imposed stringent regulations on foreign exchange transactions. Its main objective was to conserve foreign exchange which was scarce during that period to prevent its misuse. In the light of economic liberalization and improving foreign reserves position, there was a demand for modification of FERA. Accordingly, a new act, Foreign Exchange Management Act (FEMA) 1999 replaced FERA. The Act comprises of 49 sections divided into 7 chapters.
Which of the following can cause a Tsunami?
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How many sectors are there in Production Linked Incentive (PLI) Schemes?
The CGWB under the Ministry of Jal Shakti conducts regular monitoring and assessment of groundwater quality including ground water contamination of Ars...
What is the name of China’s cutting-edge ocean drilling vessel designed to penetrate the Earth’s crust and reach the mantle for the first time in hu...
Which dance form of Goa is also known as the ‘Warrior Dance’?
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Which of the following evidence prove's that the Himalayas are still rising?
1.The frequent occurrence of earthquakes in the Himalayan region ...
What was the name of cyclonic storm that came in Arabian Sea in May, 2021?