why fema come instead of fera act why?
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Explanation:FERA was conceived with the notion that Foreign Exchange is a scarce resource. FEMA was conceived with the notion that Foreign Exchange is an asset. FERA rules regulated foreign payments. FEMA focused on increasing the foreign exchange reserves of India, focused on promoting foreign payments and foreign trade.
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FERA was conceived with the notion that Foreign Exchange is a scarce resource. FEMA was conceived with the notion that Foreign Exchange is an asset. FERA rules regulated foreign payments. FEMA focused on increasing the foreign exchange reserves of India, focused on promoting foreign payments and foreign trade.
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