Foreign Exchange Management Act, 1999

manish.kumar@abesit.in

Introduction
The Foreign Exchange Management Act (FEMA)is an Act to consolidate and amend

the law relating to foreign exchange with the

objective of facilitating external trade and payments and for promoting maintenance the of orderly foreign development and

exchange market in India.

Objectives
To facilitate external trade and payments To consolidate and change/amend the law related to foreign exchange Promoting orderly development or maintenance of foreign exchange in Indian market The act extends to whole of India

Features
Dealing in foreign exchange