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Q:

FEMA (Foreign Exchange Management Act) was finally implemented in the year_____.

  • 1
    1991
  • 2
    1997
  • 3
    2002
  • 4
    2007
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Answer : 3. "2002"
Explanation :

Foreign Exchange Management Act, 1999 (FEMA) came into force by an act of Parliament. It was enacted on 29 December 1999.

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