FEMA - Foreign Exchange Management Act FEMA by RBI.



FEMA


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.

Login
Username
Password
Enquiry Form
Fields marked with an asterisk * are required.
   

 





 







What is New?
Date: 28-07-2014
RBI/2014-15/151 A.P. (DIR Series) Circular No. 15
Compilation of R-return: Reporting under FETERS-Discontinuation of ENC and Sch 3 to 6 file

Date: 28-07-2014
RBI/2014-15/152 A.P. (DIR Series) Circular No.16
Trade Credits for Imports into India — Review of all-in-cost ceiling

Date: 28-07-2014
RBI/2014-15/153 A.P. (DIR Series) Circular No.17
External Commercial Borrowing (ECB) Policy — Review of all-in-cost ceiling

Date: 25-07-2014
RBI/2014-15/147 A.P. (DIR Series) Circular No.14
Issue of Prepaid Forex Cards- Due Diligence and Adherence to KYC norms

Date: 24-07-2014
Customs Notification No. 35/2014-Customs (ADD)
Seeks to impose definitive anti-dumping duty on imports of Rubber Chemicals originating in or exported from from China PR and Korea

Date: 23-07-2014
RBI/2014-15/144 A. P. (DIR Series) Circular No. 12
Exim Bank's Line of Credit of USD 41.96 million to the Government of the Republic of Senegal

Date: 23-07-2014
RBI/2014-15/145 A. P. (DIR Series) Circular No. 13
Foreign investment in India by SEBI registered Long term investors in Government dated Securities

Date: 23-07-2014
Customs Notification No. 30/2014-Customs (ADD)
Seeks to extend the validity of notification No. 50/2010-Cus dated 12.04.2010 for a further period of 1 year i.e. upto and inclusive of 14.06.2015.

Date: 23-07-2014
Customs Notification No. 31/2014-Customs (ADD)
Seeks to extend the validity of notification No. 9/2013-Cus (ADD) dated 26.04.2013 for a further period of 1 year ie. upto and inclusive of 29.07.2015

Date: 23-07-2014
Customs Notification No. 32/2014-Customs (ADD)
Seeks to extend the validity of notification No. 140/2009-Cus dated 12.12.2009 for a further period of 1 year ie. upto and inclusive of 21.06.2015.


Copyright © 1999-2014 Exim Guru . All Rights Reserved.
The information presented on the site is believed to be accurate. However, Exim Guru takes no legal responsibilities for the validity of the information.
Please read our Terms of Use and Privacy Policy before you use this Website. RSS




Live Chat