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3 result(s) for "FEMA"
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.