INDEX |Sr.No |Topic |Page No | |1 |FERA Introduction | | |2 |Need to Introduce FERA | | |3 |Objective of FERA | | |4 |Definitions in FERA | | |5 |Case Study : ITC,Kerkar | | |6 |Need to introduce FEMA | | |7 |Foreign Exchange Management Act | | |8 |Objectives and extent of FEMA | | |9 |Some Highlights of FEMA | | |10 |Progression / Transfer of FERA to FEMA | | |10 |Definitions in FEMA | | |11 |Recent Amendment to FEMA | | |12 |FERA VS FEMA | | |13 |Impact of FEMA on FOREX | | |15 |Foreign Direct Investment [FDI] & Foreign | | | |Institutional Investors [FII] | | |16 |Capital Account Convertibility | | |19 |ECB | | |20 |HAWALA TRANSACTIONS | | |21 |FEMA AND MONEY LAUNDERING | | |22 |Case Study on FEMA: Reliance Infrastructure | |
Foreign Exchange Regulation Act 1973
The Foreign Exchange Regulation Act (FERA) was enacted in 1973 by the Indian Parliament to consolidate and amend the FERA Act of 1947, regulating certain payments, foreign exchange and securities transactions, and transactions that affect India's currency trade. It extends to the whole of India. It applies also to all citizens of India outside India and to branches and agencies outside India of companies or bodies corporate, registered or incorporated in India.
The 1973 law was created during the tenure of Prime Minister Indira Gandhi with the goal of conserving India's foreign exchange resources. The country was facing a trade deficit, which was exacerbated by a devaluation of the...