Answer ( 1 )

  1. ​​The major provisions of FEMA, 1999 relate to following matters :

    Dealing in foreign exchange, etc.
    Holding of foreign exchange, etc.
    Current account transactions
    Capital account transactions
    Export of goods and services
    Realization and repatriation of foreign exchange
    Exemption from realization and repatriation in certain cases.
    Provisions relating to authorised persons. i.e. authorised by RBI to deal with foreign exchange or in foreign securities
    Power of RBI to inspect authorized person
    Contravention and penalties
    Adjudication and appeal
    Directorate of enforcement
    Miscellaneous provisions
    For more details on FEMA refer to the FAQ section at http://www.rbi.org.in

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