The reserve Bank Of India (RBI) has simplified Foreign Exchange Management ( Transfer or issue of Security by a Person Resident outside india. Regulations to make it easier for foreign investment .
It was done by putting all 93 amendments under one notification. The new regulation combines earlier two regulations on foreign investments. They are FEMA 20 (Investment in Indain company or partnership or in a limited liabilities partnership) or FEMA 24 .
It also introduces late submission fee that could allow investment to regularise any contravention due to non-reporting, by paying the fee.
Foreign Exchange Management Act (FEMA) was passed by Parliament in 1999 and so far was amended 93 times. It had replaced FERA (Foreign Exchange Regulations Act), 1973 which had become incompatible after economic reforms and pro-liberalization policies of Government.
It aims at facilitating external trade and payments and for promoting the orderly development and maintanace of foreign exchange market in India. It makes offense related to foreign exchange civil offences. It enable new foreign exchange management regime consistent with emerging framework of World TRADE ORGANIZATION (WTO).
It was done by putting all 93 amendments under one notification. The new regulation combines earlier two regulations on foreign investments. They are FEMA 20 (Investment in Indain company or partnership or in a limited liabilities partnership) or FEMA 24 .
It also introduces late submission fee that could allow investment to regularise any contravention due to non-reporting, by paying the fee.
Foreign Exchange Management Act (FEMA) was passed by Parliament in 1999 and so far was amended 93 times. It had replaced FERA (Foreign Exchange Regulations Act), 1973 which had become incompatible after economic reforms and pro-liberalization policies of Government.
It aims at facilitating external trade and payments and for promoting the orderly development and maintanace of foreign exchange market in India. It makes offense related to foreign exchange civil offences. It enable new foreign exchange management regime consistent with emerging framework of World TRADE ORGANIZATION (WTO).
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