FEMA 1999

The Foreign Exchange Management Act, 1999 (FEMA) as enacted by Parliament came into effect from 1st June 2000. It deals with law relating to foreign exchange with the objective of facilitating external trade and payments. It was enacted for promoting the orderly development and maintenance of foreign exchange market in India.

The Act is fully covered along with the Amendment to FEMA as advised by RBI through a series of circulars namely AP (DIR, FEMA – 1999, is covered in Foreign Trade Course.