Question

Bring out the salient features of fema and differentiate them with those of fera.

Answer 1

The main stress of the FEMA is on the “management of exchange”. The main difference between these two terminologies is their main objective as FERA was made in order to conserve and prevent misuse of foreign exchange. On the other side, the FEMA is designed for the prime goal of assisting the external trade and payments.

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