FEMA is a law in India that controls how foreign money is used and moved in and out of the country. Its main purpose is to make it easier to trade and invest internationally, manage India’s foreign money reserves, and follow global financial rules.
This law helps simplify sending and receiving money across countries, encourages foreign investments, and supports India’s efforts to become a more open and investor-friendly economy.
If the penalty isn’t paid within 90 days, the person can be jailed:
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Yes, the Foreign Exchange Management Act (FEMA) is still in force in India.
FEMA covers foreign exchange transactions, which are classified into Current Account Transactions and Capital Account Transactions.
FEMA is pivotal in regulating Foreign Direct Investment (FDI) in India. It sets rules for capital account transactions, including sectoral limits, approval routes, and compliance requirements, ensuring the’ smooth and legal flow of foreign funds into the country.
FERA regulates foreign payments and conserves foreign exchange transactions, FEMA enhances India’s foreign exchange reserves and emphasises the promotion of foreign payments and trade.
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© 2025 Developed by Digitally Vibed