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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.
The Headquarter of SIDBI Is located in
Which of the following is the secondary function of Banks?
I. Collecting and supplying business information.
II. Issuing letters of c...
Which of the following Bank was not nationalized in the First Phase of Nationalization of Banks?
Under which Act, Banking ombudsman has been constituted?
As per the RBI guidelines, Banks will be able to offer short-term crop loans up to one year at what percent of rate per annum?
.............................is a facility extended by the Reserve Bank of India to the scheduled commercial banks (excluding RRBs) and primary dealers ...
Uttarakhand Gramin Bank established after the amalgamation of
What is Notice Money?
The Marine Products Export Development Authority (MPEDA) is organizing the 22nd edition of India International Seafood Show (IISS) 2020 in Kochi from 7-...
‘Project Tatkal’ is a recent initiative of the State Bank of India to speed up the process of _____________.
