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    FEMA - Foreign Exchange Management Act FEMA by RBI.


    The Foreign Exchange Management Act (1999) or in short FEMA has been introduced as a replacement for earlier Foreign Exchange Regulation Act (FERA). FEMA became an act on the 1st day of June, 2000. FEMA was introduced because the FERA didn’t fit in with post-liberalisation policies. A significant change that the FEMA brought with it, was that it made all offenses regarding foreign exchange civil offenses, as opposed to criminal offenses as dictated by FERA.

    The main objective behind the Foreign Exchange Management Act (1999) is to consolidate and amend the law relating to foreign exchange with the objective of facilitating external trade and payments. It was also formulated to promote the orderly development and maintenance of foreign exchange market in India.

    FEMA is applicable to all parts of India. The act is also applicable to all branches, offices and agencies outside India owned or controlled by a person who is a resident of India.

    The FEMA head-office, also known as Enforcement Directorate is situated in New Delhi and is headed by a Director. The Directorate is further divided into 5 zonal offices in Delhi, Mumbai, Kolkata, Chennai and Jalandhar and each office is headed by a Deputy Director. Each zone is further divided into 7 sub-zonal offices headed by the Assistant Directors and 5 field units headed by Chief Enforcement Officers.

    Updated details of FEMA notifications are given below. If you can’t find what you are looking for, fill in the form on the right and our representative will get in touch with you at the earliest.


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    Date: 25-10-2016
    DGFT Public Notice No. 40/2015-2020
    Corrigendum to Public Notice No. 38/(2015-2020) dated 6th October, 2016.

    Date: 20-10-2016
    Customs Notification No. 127/2016 (NT)
    Rate of exchange of conversion of the foreign currency with effect from 21st October, 2016

    Date: 20-10-2016
    RBI/2016-17/88 A.P. (DIR Series) Circular No. 6
    Review of sectoral caps and simplification of Foreign Direct Investment (FDI) Policy

    Date: 20-10-2016
    RBI/2016-17/89 A.P. (DIR Series) Circular No. 7
    Investment by a Foreign Venture Capital Investor (FVCI) registered under SEBI (FVCI) Regulations, 2000

    Date: 20-10-2016
    RBI/2016-17/90 A.P. (DIR Series) Circular No. 8
    Foreign investment in Other Financial Services

    Date: 20-10-2016
    RBI/2016-17/91 A.P. (DIR Series) Circular No. 9
    Rupee Drawing Arrangement - Trade related remittance limit

    Date: 20-10-2016
    RBI/2016-17/92 A.P. (DIR Series) Circular No. 10
    External Commercial Borrowings (ECB) – Extension and conversion

    Date: 20-10-2016
    RBI/2016-17/93 A.P. (DIR Series) Circular No. 11 [(1)/14(R)]
    Foreign Exchange Management (Manner of receipt and payment) Regulations, 2016

    Date: 20-10-2016
    Customs Circular No. 47/2016
    Rebate of State levies on Export of Garments-Implementation by CBEC

    Date: 20-10-2016
    DGFT Public Notice No. 39/2015-2020
    Inclusion of Inland Container Depots located at Kalinganagar and Turnb Village (Taluka Umbergaon, District Valsad) as a Port of Registration under Para 4.37 of Hand Book of Procedures (2015-2020).

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