FEMA, 1999
- On 14th February 2025, Reserve Bank of India (RBI) directed state-owned banks to penalize companies for violating Foreign Exchange Management Act (FEMA), 1999 by obtaining guarantees from overseas banks, as per reports.
- FEMA, 1999 replaced the Foreign Exchange Regulation Act (FERA), 1973.
- It Facilitates external trade & payments, promotes orderly forex market development.
- Jurisdiction: Applies across India and to Indian entities abroad.
- Directorate of Enforcement investigates violations under the Act. ....
Do You Want to Read More?
Subscribe Now
To get access to detailed content
Already a Member? Login here
Take Annual Subscription and get the following Advantage
The annual members of the Civil Services Chronicle can read the monthly content of the magazine as well as the Chronicle magazine archives.
Readers can study all the material since 2018 of the Civil Services Chronicle monthly issue in the form of Chronicle magazine archives.
News Snippets
- 1 India-Bhutan Hold Talks on Boundary and Cooperation
- 2 New Species of Congrid Eel Discovered
- 3 Delhi Becomes the 28th Legislature to Join NeVA
- 4 U.S. Withdraws from U.N. Climate Damage Fund Board
- 5 India and Vietnam Hold Fourth Policy Planning Dialogue
- 6 US Targets India’s High Tariffs
- 7 India and Armenia Sign MoU on Medical Product Regulation
- 8 Poland & Baltic States to Withdraw from Ottawa Convention
- 9 India and Mongolia Strengthen Strategic Partnership
- 10 New Freshwater Algae Species Discovered in Western Ghats
