FEMA
E633185
FEMA is an Indian law enacted in 1999 that governs foreign exchange transactions and aims to facilitate external trade and payments while promoting the orderly development of the country’s foreign exchange market.
Statements (45)
| Predicate | Object |
|---|---|
| instanceOf |
Indian statute
ⓘ
foreign exchange law ⓘ |
| administeredBy |
Central Government of India
NERFINISHED
ⓘ
Reserve Bank of India NERFINISHED ⓘ |
| appliesTo |
foreign exchange dealings in India
ⓘ
persons resident in India ⓘ persons resident outside India in specified cases ⓘ |
| authorises | authorised dealers in foreign exchange ⓘ |
| containsProvisionOn |
acquisition and holding of foreign exchange
ⓘ
branch, office or agency outside India ⓘ capital account regulation ⓘ current account convertibility ⓘ export of goods and services ⓘ foreign security and immovable property outside India ⓘ realisation and repatriation of export proceeds ⓘ transfer of foreign exchange ⓘ |
| country | India ⓘ |
| definesTerm |
authorised person
ⓘ
capital account transaction ⓘ current account transaction ⓘ person resident in India ⓘ |
| enactedBy | Parliament of India NERFINISHED ⓘ |
| enactedInYear | 1999 ⓘ |
| enforcementMechanism |
adjudication by designated authorities
ⓘ
appeals to Appellate Tribunal ⓘ appeals to High Court ⓘ |
| focus | management of foreign exchange ⓘ |
| fullName | Foreign Exchange Management Act, 1999 NERFINISHED ⓘ |
| governs |
capital account transactions
ⓘ
cross-border payments ⓘ current account transactions ⓘ foreign exchange transactions ⓘ |
| legalNature | civil law framework ⓘ |
| linkedTo |
India’s external sector management
ⓘ
India’s foreign exchange policy ⓘ |
| penaltiesType | monetary penalties ⓘ |
| policyOrientation | liberalised foreign exchange regime ⓘ |
| primaryObjective |
facilitation of external trade and payments
ⓘ
promotion of orderly development and maintenance of foreign exchange market in India ⓘ |
| region | Republic of India NERFINISHED ⓘ |
| replaced | Foreign Exchange Regulation Act, 1973 NERFINISHED ⓘ |
| replacedLegalNatureOf | criminal law framework under FERA ⓘ |
| scope | transactions between residents and non-residents ⓘ |
| shortTitle | Foreign Exchange Management Act NERFINISHED ⓘ |
| status | in force ⓘ |
Referenced by (1)
Full triples — surface form annotated when it differs from this entity's canonical label.