Question : The Foreign Exchange Management Act (FEMA) replaced which earlier act?

Option 1: Foreign Exchange Regulation Act (FERA)

Option 2: Foreign Investment Promotion Board (FIPB)

Option 3: Industrial Development and Regulation Act (IDRA)

Option 4: Companies Act

Question : The Foreign Exchange Regulation Act was replaced by the ______ in India.

Option 1: Foreign Exchange Currency Act

Option 2: Foreign Exchange Finances Act

Option 3: Foreign Exchange Funds Act

Option 4: Foreign Exchange Management Act

Question : The major objective of the Foreign Exchange Regulation Act (FERA) was to:

Option 1: Promote foreign investment

Option 2: Regulate imports and exports

Option 3: Control foreign exchange transactions

Option 4: Promote international trade

Question : Statement 1: The Foreign Exchange Regulation Act (FERA) was enacted to regulate foreign trade in India.

Statement 2: FERA was replaced by the Foreign Exchange Management Act (FEMA) in 1991.

Option 1: Both statements are true.
   

Option 2: Both statements are false.
 

Option 3: Statement 1 is true, and statement 2 is false.

Option 4: Statement 1 is false, and statement 2 is true.

Question : Which among the following is not a preventive detention act?

Option 1: Terrorist and Disruptive Activities (Prevention) Act (TADA).

Option 2: Prevention of Terrorism Act (POTA).

Option 3: Conservation of Foreign Exchange and Prevention of Smuggling Activities Act (COFEPOSA).

Option 4: Foreign Exchange Regulation Act (FERA).