BASIS OF COMPARISON | FERA | FEMA |
---|---|---|
Purpose | Regulate foreign exchange | Manage foreign exchange |
Year Enacted | 1973 | 1999 |
Penalty for Breach | Severe, including imprisonment | Monetary penalty, no imprisonment |
Focus | Restrictions and prohibitions | Promotion and facilitation |
Foreign Investment | Discouraged | Encouraged |
Regulatory Approach | Rigid and bureaucratic | Flexible and transparent |
WTO Compliance | Non-compliant | Compliant |
Key Differences Between FERA and FEMA
- A word from our sponsors -