RBI releases 9 updated regulations under FEMA 1999

Q.  RBI has come up with 9 updated regulations under which act to promote ease of doing business?
- Published on 05 Feb 16

a. FERA
b. FEMA
c. POSCO
d. TADA

ANSWER: FEMA
 
With the intention of promoting ease of performing business, RBI came up with 9 updated regulations under the Foreign Exchange Management Act/FEMA 1999. RBI has indicated that original notifications and coming amendments stand repealed. Revised regulations will have the same numbers as the old ones with the suffix R along with the year of publication. FEMA was enacted in 1999 and it had 25 original notifications.This act came into force w.e.f June 1, 2000.

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