foreign exchange regulation act 1973
The Foreign Exchange Regulation Act (FERA) was enacted in India in 1973 to regulate foreign exchange transactions. Its goal was to conserve and regulate the flow of foreign exchange in the country. FERA made it mandatory for foreign exchange transactions to be routed through authorized dealers like banks. It gave wide powers to the Reserve Bank of India (RBI) over foreign exchange dealings.
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The Foreign Contribution Regulation Act (FCRA) regulates the acceptance and utilization of foreign contributions by individuals and associations opera...
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