📢 Too many exams? Don’t know which one suits you best? Book Your Free Expert 👉 call Now!

    Question

    What is the principal objective of the Foreign Exchange

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

    Solution

    The correct answer is B

    Practice Next
    More Accounts Questions
    ask-question