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Foreign Exchange Management Act (FEMA)


What Type of Offences?

Although under FEMA, offences pertain to transactions in foreign Exchange only. However relevant offences are as follows:

Details in Foreign Exchange:

  • Only a person Authorized by Reserve Bank can deal in foreign Exchange

  • No one can make a payment to a person resident outside India, without permission of Reserve Bank.

  • No one receives any payment from a person resident outside India, without permission of Reserve Bank.

  • A person resident in India cannot deal in foreign exchange, foreign security or any immovable property situated outside India, without permission of Reserve Bank. (sec 4)

  • Similarly a person resident outside India, cannot acquire immovable property in India without permission.



Foreign Exchange Management Act (FEMA) Back




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