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What is the full form of "FERA"?

  • A.Foreign Exchange Rate Axis
  • B.Foreign Exchange Regulation Act
  • C.Financial Exchange Ratio Analysis
  • D.Federal Exchange Regulation Authority

Answer: B

Correct answer: Foreign Exchange Regulation Act

FERA, of 1973, controlled dealings in foreign exchange in India; it was replaced by the more liberal FEMA in 1999.

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