- FEMA replaced FERA. - FEMA was enacted in
In which year Foreign Exchange Management Act (FEMA) came into existence ?
Asked in UKPSC CS Prelims 2024 · Topic: Foreign Exchange Market and Exchange Rate Determination (India's Exchange Rate Policy and Management of Foreign Exchange Reserves)
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Answer: D. 1999
Read the notes: Foreign Exchange Market and Exchange Rate Determination →
More External Sector of Economy questions
- - It came into force in 2000. - The Act was aimed at liberalizing foreign exchange controls in India, making it consistent with post-liberalization policies. 28. Who maintains the foreign exchange reserve in India ?
- Which one of the following is NOT included in the foreign exchange reserves of India?
- India's foreign exchange reserves have continuously increased since 2000-01 because of
- The legal provisions governing the management of foreign exchange reserves are laid down in the Reserve Bank of India Act—
- What is FEMA?
- What are the recent trends in the global economy which has led to RBI 'sell buy' swap of USD/INR (a) Financial markets worldwide facing intense selling pressures due to the spread of Covid-19 infections. (b) Slump in International crude prices. (c) Emerging market currencies experiencing upward pressure.
- With reference to the Indian economy, consider the following statements: If the inflation is too high, Reserve Bank of India (RBI) is likely to buy government securities. If the rupee is rapidly depreciating, RBI is likely to sell dollars in the market. If interest rates in the USA or European Union were to fall, that is likely to induce RBI to buy dollars. Which of the statements given above are correct ?
- Under a managed float exchange rate system, the RBI can intervene in Foreign Exchange Markets to