Infodriveindia.com, the market leader in business intelligence reports on Indian customs, exports and imports, has come up with the latest information on the Foreign Exchange Management Act (FEMA) passed by the RBI. The information is a must-read for all the prospective importers and exporters as it give updates on all the rules and regulations.
Online PR News – 29-September-2010 – – New Delhi, India, September 29, 2010: Infodriveindia.com, one of the pioneers in business intelligence reports on Indian customs, exports and imports is pleased to present all the latest updated information on the FEMA Act by the RBI and its role in promoting foreign exchange. The entire set of Foreign Exchange Management Act rules, laws and regulations, the notifications, circulars and the public notices have been posted on the website. The payment regulations, insurance regulations, information regarding acquisition and transfer of property, adjudication proceedings, appeal rules, etc. can be found on the website for scrutiny by prospective importers and exporters.
The Foreign Exchange Management Act (1999) or in short FEMA has been introduced as a replacement for the earlier Foreign Exchange Regulation Act (FERA). FEMA came into act on the 1st day of June, 2000. The main objective behind FEMA (1999) is to consolidate and amend the law relating to foreign exchange with objective of facilitating external trade and payments and for promoting the orderly development and maintenance of foreign exchange market in India.
Infodriveindia.com presents the data in an easy-to-understand style. It has a detailed analysis of FEMA Act’s current rules and regulations. Also, all of FEMA-related current news can be read on the website. The notifications, circulars and the public notices are updated as soon as they are announced. All the exporters and importers are bound to benefit from the information. It will surely help them understand the current foreign exchange scenario and make the right decision in maximizing business gains.
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. FEMA head-office also known as Enforcement Directorate is situated in New Delhi and is headed by a Director.
A lot of stress on the development and maintenance of the foreign exchange market is being laid in the country in the recent years. The study of the latest updated rules and regulations related to the FEMA Act on Infodriveindia.com will enable companies/traders to understand the various rules and regulations in a proper manner and hence conduct their foreign exchange business and attain a meteoric rise. For the latest updated information, please visit http://www.infodriveindia.com/Exim/Reserve-Bank/FEMA.aspx