FEMA

The Foreign Exchange Management Act (FEMA) is a pivotal legislation in India that governs foreign exchange transactions and aims to facilitate external trade and payments while promoting the orderly development and maintenance of the foreign exchange market in the country. Enacted in 1999, FEMA replaced the earlier Foreign Exchange Regulation Act (FERA) of 1973, bringing a more flexible and liberal framework to the management of foreign exchange in India. This blog delves into the key