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FEMA FEMA Basics: Capital Account vs Current Account Transactions The Foreign Exchange Management Act draws a key distinction between capital and current account transactions, which determines how freely a cross-border transaction is permitted.

FAQ What replaced FERA with FEMA? FEMA, enacted in 1999, replaced the older Foreign Exchange Regulation Act (FERA). The shift moved India's foreign exchange framework from a criminal-law-oriented, restrictive regime toward a civil, management-oriented approach aligned with economic liberalisation. FAQ Is every foreign remittance from India regulated under FEMA? Yes — FEMA governs all cross-border foreign exchange transactions by residents and non-residents in India, though many routine transactions are freely permitted within prescribed limits and reporting requirements. FAQ Is NRO account repatriation completely restricted? Not completely — NRIs can repatriate funds from an NRO account up to a specified limit per financial year, subject to applicable tax compliance and RBI/FEMA conditions.

Download FEMA Declaration — Punjab National Bank Standalone FEMA declaration confirming a transaction doesn't involve any contravention or evasion of FEMA, and undertaking to provide supporting information on request. Sourced directly from Punjab National Bank — always confirm you're using the current version with your branch. Download Common eBRC Request Letter — Punjab National Bank Cover letter for submitting export documents (shipping bill, commercial invoice, inward remittance advice, packing list, FEMA declaration) to request eBRC issuance or attestation of export documents. Sourced directly from Punjab National Bank — always confirm you're using the current version with your branch.