Question

Foreign exchange management regulation has been notified in which year

Answer 1

Foreign exchange management regulation has been notified 1999.

Answer 2

The ‘foreign exchange management’ regulation has been notified on 1st of June, 2000.  

Explanation:

• The ‘Foreign Exchange Management Act’ was brought in to replace the earlier Foreign Exchange Regulation Act (FERA).  

• The ‘Foreign Exchange Management Act’ also called the FEMA was introduced because the FERA did not relate to the policies of post-liberalization.  

• There were a number of changes that were introduced with the introduction of FEMA.  

• The main objective was to bring in amendments to the laws and regulation related facilitating of external trading.