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F in FEMA?

  • A.Foreign
  • B.Financial
  • C.Fiscal
  • D.None of these

Answer: A

Correct answer: Foreign

FEMA is the Foreign Exchange Management Act, 1999. It replaced the older FERA (Foreign Exchange Regulation Act, 1973) and changed the approach from regulating and penalising foreign exchange dealings to managing them, with contraventions treated as civil rather than criminal matters.

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