Question

    Who is the appropriate authority to appoint an

    authorised person under FEMA?
    A Ministry of Finance Correct Answer Incorrect Answer
    B Reserve Bank of India Correct Answer Incorrect Answer
    C Securities and Exchange Board of India Correct Answer Incorrect Answer
    D Department of Economic Affairs Correct Answer Incorrect Answer
    E Foreign Exchange Department of RBI Correct Answer Incorrect Answer

    Solution

    Section 10. Authorised person.—(1) The Reserve Bank may, on an application made to it in this behalf, authorise any person to be known as authorised person to deal in foreign exchange or in foreign securities, as an authorised dealer, money changer or off-shore banking unit or in any other manner as it deems fit.

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