Question

There is no provision related to foreign securities in FEMA. (True / False)​

Answer 1

Answer:

true

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Answer 2

Fema regulations

Explanation:

• The Foreign Exchange Management Act was enacted by the Indian Central Government to encourage external payments and cross-border trade in India.
• FEMA was created to address all of the flaws and shortcomings of FERA (Foreign Exchange Regulation Act), and as a result, it enacted a number of economic reforms (major reforms). FEMA was created primarily to de-regulate and liberalise India's economy.
• FEMA was established in India with the primary goal of facilitating international trade and payments. FEMA was also created to aid the development and maintenance of the Indian currency market in an orderly manner.
• The Foreign Exchange Management Act (FEMA) establishes the rules and procedures for all foreign exchange transactions in India. Capital Account Transactions and Current Account Transactions are the two types of foreign exchange transactions that have been categorised.
• The balance of payment, as defined by the FEMA Act, is a record of transactions in commodities, services, and assets between citizens of different countries. Capital Account and Current Account are the two primary types of accounts.