of 1973. the rbi proposed fema in 1999 to administrate foreign trade and exchange transactions. the foreign exchange management act officially came into force on 1st june 2000. q2 what is the importance of fema? the main objective of fema was to help facilitate external trade and payments in ...
FEMA envisages that RBI shall have controlling role in management of foreign exchange. Since RBI cannot directly handle foreign exchange transactions, it authorizes “Authorised Persons” to deal in foreign exchange as per direction issued by RBI.RBI is empowered to issue direction to such “Authoris...
specific rules, among other items.10 Table 1. Public Assistance Authorizing Statutes Stafford Act Section Assistance Authorized Section 407, 428, or 502 Emergency Work: Debris Removala Section 402, 403, 418, 419, or 502c Emergency Work: Emergency Protective Measuresa ...