Write a note on Foreign Exchange Management Act (FEMA),
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· The Foreign Exchange Management Act, 1999 (FEMA) is an Act of the Parliament of India "to consolidate and amend the law relating to foreign exchange with the objective of facilitating external trade and payments and for promoting the orderly development and maintenance of foreign exchange market in India".
Enacted by: Parliament of India
Enacted: 29 December 1999
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