Fema replaced which act

A person has to take permission from RBI relating to the transfer of funds to external operations. There is no requirement of the pre-approval from RBI regarding the transfer of funds relating to the external operations, funds or trade. If any violation of the provision or order then it will be considered as a criminal offence. If any violation of the provision or order then it will be considered as a civil offence. The guilty person will be held liable to pay a fine and if the fine is not paid within stipulated time then will be sentenced to imprisonment.

FEMA only permits an authorized person to deal in Foreign exchange or foreign security shares, stocks, bonds etc. The main objective of FEMA was to consolidate and amend the laws relating to the foreign exchange with the reason to facilitate the external trade and payments and for the maintenance of the foreign exchange market in India. LawSikho has created a telegram group for exchanging legal knowledge, referrals and various opportunities.

Follow us on Instagram and subscribe to our YouTube channel for more amazing legal content. Save my name, email, and website in this browser for the next time I comment. Check your mailbox for the joining link. From Bhawna Agarwal: [email protected]. Sign in. Password recovery. Forgot your password? Get help. Table of Contents. The doctrine of frustration and force majeure in commercial leases during COVID : a critical appraisal. Insider trading in India : regulations and controlling authority.

Please enter your comment! Please enter your name here. You have entered an incorrect email address! Powered by iPleaders. Register now Name. Specify Occupation. I want to know more about the lawsikho courses Yes.

Social media inspired collaborative, bottom-up responses that we have only begun to understand. During Katrina, social media was a hobby of techie students. Facebook was not yet available beyond universities. Today, government agencies and rural Texans and Floridians use social media. People found out which shelters were open and who needed help during the storm through texts and tweets.

Imagine if pictures of the dangerous conditions at Memorial Hospital , hidden from news cameras during Katrina, had been circulated on the internet and broadcast on television.

Lives might have been saved. After Katrina, resilience replaced sustainability as the organizing concept in disaster management. Government agencies and private foundations used the term as a rallying cry to focus efforts on how to prepare for inevitable disasters rather than just avoid them.

The Rockefeller Foundation even funded resilience officers in local government beginning in At its best, resilience refers to the idea that communities can do more than just rebuild. Import Data. Exim Help. What is New? Date: Notification No. Exchange rates Notification No. Date: Public Notice No. Which service s are you interested in? OR Exim Help. Export Data Import Data Both. Buyers Suppliers Both. Under FERA it was necessary to obtain Reserve Bank's permission, either special or general, in respect of most of the regulations there under.

FEMA has brought about a sea change in this regard and except for Section 3 which relates to dealing in foreign exchange, etc. Are you worried or stressed? Click here for Expert Advice.

Comment 0. Post Comment. Disclaimer: Comments will be moderated by Jagranjosh editorial team.