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Vikas posted an Question
May 22, 2021 • 15:22 pm 30 points
  • UGC NET
  • Commerce

17. the significant development in the sphere of foreign exchange was introduced of (a) foreign exchange regulation act (fera) (b) foreign exchange management (

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    Vikas

    foreign exchange ka point of view se sab se phela

    eduncle-logo-app

    question is asking significant development not the first

  • Priya gulani

    The Government of India formulated FEMA or Foreign Exchange Management Act to encourage external payments and across the border trades in India. It was formulated in the year 1999 while it replaced FERA (Foreign Exchange Regulation Act). This was meant to close all the loopholes and drawbacks of FERA and hence major economic reforms were introduced under this act. 

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