What is the full form of "FEMA"?
Foreign Exchange Monetary Analyst
Financial Exchange Marketing Act
Foreign Exchange Management Act
Financial Exchange Management Act
View Answer
Correct Answer: C — Foreign Exchange Management Act
Explanation:
The Foreign Exchange Management Act (FEMA), 1999, 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".
