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The Foreign Exchange Management Act, 1999 (FEMA) is an Act of the Parliament of India "to consolidate and amend the law relating to foreign exchange with the objective of facilitating external trade and payments and for promoting the orderly development and maintenance of foreign exchange market in India". [1]
The same was formed under the FEMA Act which replaced the erstwhile Foreign Exchange Regulation Act (FERA). While the main object of FERA was to conserve the foreign exchange resources and prevent the misuse thereof; the object of the FEMA was to promote and develop the foreign exchange management in India. [2]
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A foreign direct investment (FDI) is an investment in the form of a controlling ownership in a business in one country by an entity based in another country. It is thus distinguished from a foreign portfolio investment by a notion of direct control. Broadly, foreign direct investment includes "mergers and acquisitions, building new facilities ...
COFEPOSA or the Conservation of Foreign Exchange and Prevention of Smuggling Activities Act is an Act of Parliament passed in 1974 during the administration of Indira Gandhi, trying to retain foreign currency and prevent smuggling. It was an economic adjunct to the controversial Maintenance of Internal Security Act (MISA) which was enacted in 1971.
FMF funds eligible governments to purchase U.S. defense articles, services and training through the government-to-government the Foreign Military Sales (FMS) program and purchases made through the Direct Commercial Contracts (DCC) program, which oversees sales between foreign governments and private U.S. companies. [7]
Individuals and business owners in these counties who sustained losses can apply for assistance online at DisasterAssistance.gov, by phone at 1-800-621-3362 or through the FEMA App. Applicants ...
Foreign exchange regulation is a form of financial regulation specifically aimed at the Forex market that is decentralized and operates with no central exchange or clearing house. Due to its decentralized and global nature, the foreign exchange market has been more prone to foreign exchange fraud and has been less regulated than other financial ...