Question

Which of the following is a key function of the Reserve

Q: Answer-Which of the following is a key function of the Reserve Bank of India (RBI) under FEMA?

Under the Foreign Exchange Management Act FEMA, 1999, one of the key functions of the Reserve Bank of India RBI is to grant general or special permissions for dealing in foreign exchange and foreign securities. Section 3 of FEMA prohibits dealing in foreign exchange except through authorized persons or with the RBIs general or special permission. RBI regulates foreign exchange transactions in India, issues guidelines, monitors cross-border transactions, and enforces FEMA provisions.

Bank of India (RBI) under FEMA?

A Setting the exchange rate of the Indian Rupee exclusively.

B Issuing rules and regulations that entirely replace the original Act.

C Providing general or special permissions for dealing in foreign exchange.

D Acting as the sole auditor for all foreign currency accounts.

E Imposing penalties on individuals for foreign exchange violations without any prior authority.

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Which of the following is a key function of the Reserve

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