Question

Write short note on Penalties under Foreign Exchange Management Act, l999.

Answer 1

The Foreign Exchange Management Act, 1999 (FEMA) is an Act of the ... It enabled a new foreign exchange management regime consistent with the emerging ..

Answer 2

Explanation:

The Foreign Exchange Management Act, 1999 was enacted 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.