10 Views

Question : Which of the following acts was introduced to regulate Foreign Exchange in India in 1973?

Option 1: FERA

Option 2: FEMA

Option 3: FRBM

Option 4: SARFAESI


Recommended : Get important details about BEL First Grade College, Bangalore. Download Brochure
Team Careers360 23rd Jan, 2024
Answer (1)
Team Careers360 25th Jan, 2024

Correct Answer: FERA


Solution : The correct option is FERA.

The Foreign Exchange Regulation Act (FERA) was introduced in India in 1973. Later, it was replaced by the Foreign Exchange Management Act (FEMA) in 1999.

FERA gave the Indian government extensive powers to regulate and control foreign exchange. Under FERA, various transactions involving foreign exchange required prior approval and licences from the Reserve Bank of India (RBI).

Compare Colleges

College Comparison based on Courses, Placement, Rank, Fee

Compare Now

Know More About

Related Questions

Amity University-Noida B.Com ...
Apply
Among top 100 Universities Globally in the Times Higher Education (THE) Interdisciplinary Science Rankings 2026
Amity University-Noida BA Adm...
Apply
Among top 100 Universities Globally in the Times Higher Education (THE) Interdisciplinary Science Rankings 2026
Amity University-Noida BBA Ad...
Apply
Among top 100 Universities Globally in the Times Higher Education (THE) Interdisciplinary Science Rankings 2026
Manav Rachna-MRIIRS B.A Admis...
Apply
Recognized as Category-1 Deemed to be University by UGC | 41,000 + Alumni Imprints Globally | Students from over 20+ countries
UPES Dehradun BCA Admissions ...
Apply
Ranked #45 Among Universities in India by NIRF | 1950+ Students Placed, 91% Placement, 800+ Recruiters
UPES Dehradun | B.Com Admissi...
Apply
Ranked #45 Among Universities in India by NIRF | 1950+ Students Placed 91% Placement, 800+ Recruiters
View All Application Forms

Download the Careers360 App on your Android phone

Regular exam updates, QnA, Predictors, College Applications & E-books now on your Mobile

150M+ Students
30,000+ Colleges
500+ Exams
1500+ E-books