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    FEMA

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    Nikhil Chaudhary
    The document presents information on the Foreign Exchange Management Act (FEMA). [1] FEMA was enacted in 1999 by the Parliament of India to regulate foreign exchange transactions and replace the older Foreign Exchange Regulation Act (FERA). [2] FEMA empowers the Reserve Bank of India to regulate foreign exchange flows and payments to and from those outside India. [3] The structure of FEMA includes a head office in New Delhi and several zonal and sub-zonal offices across India headed by various directors and assistant directors.

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    FEMA

    Uploaded by

    Nikhil Chaudhary
    35 views7 pages
    The document presents information on the Foreign Exchange Management Act (FEMA). [1] FEMA was enacted in 1999 by the Parliament of India to regulate foreign exchange transactions and replace the older Foreign Exchange Regulation Act (FERA). [2] FEMA empowers the Reserve Bank of India to regulate foreign exchange flows and payments to and from those outside India. [3] The structure of FEMA includes a head office in New Delhi and several zonal and sub-zonal offices across India headed by various directors and assistant directors.

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    The document presents information on the Foreign Exchange Management Act (FEMA). [1] FEMA was enacted in 1999 by the Parliament of India to regulate foreign exchange transactions and replace the older Foreign Exchange Regulation Act (FERA). [2] FEMA empowers the Reserve Bank of India to regulate foreign exchange flows and payments to and from those outside India. [3] The structure of FEMA includes a head office in New Delhi and several zonal and sub-zonal offices across India headed by various directors and assistant directors.

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    35 views7 pages

    FEMA

    Uploaded by

    Nikhil Chaudhary
    The document presents information on the Foreign Exchange Management Act (FEMA). [1] FEMA was enacted in 1999 by the Parliament of India to regulate foreign exchange transactions and replace the older Foreign Exchange Regulation Act (FERA). [2] FEMA empowers the Reserve Bank of India to regulate foreign exchange flows and payments to and from those outside India. [3] The structure of FEMA includes a head office in New Delhi and several zonal and sub-zonal offices across India headed by various directors and assistant directors.

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    You are on page 1of 7

    PRESENTATION

    ON :-
    FOREIGN EXCHANGE
    MANAGEMENT ACT

    SUBMITTED TO :- SUBMITTED
    PROF. (DR.) S L GUPTA
    DIRECTOR BY :-
    BIRLA INSTITUTE OF PRASHANT
    TECHNOLOGY, MESRA, OFF MBA/45004/21
    CAMPUS NOIDA
    TABLE OF CONTENTS :-
    S. NO. TOPIC PAGE NO.
    1. INTRODUCTION TO FOREIGN 3
    EXCHANGE MANAGEMENT ACT
    2. Features of Foreign Exchange 4
    Management Act
    3. Structure of FEMA 5
    4. DIFFERENCE BETWEEN FERA 6
    AND FEMA
    INTRODUCTION TO FOREIGN
    EXCHANGE MANAGEMENT ACT :-
     Foreign Exchange Management Act, 1999 (FEMA) came into
    force by an act of Parliament.
     It was enacted on 29 December 1999.
     It is a set of regulations that empowers the Reserve Bank of India
    to pass regulations and enables the Government of India to pass
    rules relating to foreign exchange in tune with the foreign trade
    policy of India.
     This new Act is in consonance with the frameworks of the World
    Trade ORGANISATION (WTO).
    Features of Foreign Exchange Management Act :-

     It gives powers to the Central Government


    to regulate the flow of payments to and
    from a person situated outside the country.
     All financial transactions concerning
    foreign securities or exchange cannot be
    carried out without the approval of FEMA.
     Empowers RBI to place restrictions on
    transactions from capital Account even if
    it is carried out via an authorized individual.
    Structure of FEMA :-
    1) The Head Office of FEMA, also known as Enforcement
    Directorate, headed by the Director is located in New
    Delhi.
    2) There are 5 zonal offices in Delhi, Mumbai, Kolkata,
    Chennai, and Jalandhar, each office is headed by Deputy
    Director.
    3) Every 5 zones are further divided into 7 sub-zonal offices
    headed by Assistant Directors and 5 field units headed by
    Chief Enforcement Officers.
    DIFFERENCE BETWEEN FERA
    AND FEMA :-
    Foreign Exchange Regulation Act Foreign Exchange Management Act
    (FERA) (FEMA)
    Parliament of India passed the Foreign Parliament of India enacted the Foreign
    Exchange Regulation Act in 1973. Exchange Management Act (FEMA) on 29
    December 1999 replacing FERA.
    FERA came into force from January 1, 1974. FEMA came into force from June 2000.
    FERA was repealed in 1998. FEMA succeeded FERA.
    FERA was conceived with the notion that FEMA was conceived with the notion that
    Foreign Exchange is a scarce resource. Foreign Exchange is an asset.
    FERA rules regulated foreign payments. FEMA focused on increasing the foreign
    exchange reserves of India, focused on
    promoting foreign payments and foreign
    trade.

    The objective of FERA was conservation of The objective of FEMA is Management of


    Foreign Exchange. Foreign Exchange.
    NAME – PRASHANT
    ROLL NO. – MBA/45004/21

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