Question

What is the principal objective of the Foreign Exchange Management Act (FEM

  • A , 1999 ?
A To impose stringent controls on all foreign exchange transactions through regulatory oversight
B To facilitate external trade and payments and ensure the orderly development and maintenance of India's foreign exchange market
C To restrict outward investments by Indian residents in foreign jurisdictions
D To substitute the Prevention of Money Laundering Act, 2002 with broader financial governance mechanisms
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