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The Foreign Exchange Management Act (FEMA) was an act passed in the winter session of Parliament in 1999, which replaced Foreign Exchange Regulation Act. This act seeks to make offences related to foreign exchange civil offences. It extends to the whole of India.

The Foreign Exchange Regulation Act (FERA) of 1973 in India was replaced on June 2000 by the Foreign Exchange Management Act (FERA), which was passed in 1999. The FERA was passed in 1973 at a time when there was acute shortage of foreign exchange in th ....etc

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A transformer is an electrical device that takes electricity of one voltage and changes it into another voltage. You'll see transformers at the top of utility poles and even changing the voltage in a toy train set.

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INTRODUCTION
The Foreign Exchange Regulation Act, 1973 was reviewed in 1993 and several amendments were enacted as part of the ongoing process of economic liberalisation relating to foreign investment and foreign trade for closes interaction with the world economy. Significant development have taken place since 1993 such as substantial increase lours foreign exchange reserves , growth in foreign trade, nationalization of tariffs ,current account convertibility, liberalization of Indian investments abroad increase a ....etc

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