Sample questions
You've seen the pattern — here are a few of the actual PYQs.
CSE2003
Which one of the following statements is correct with reference to FEMA in India?
- A The Foreign Exchange Regulation Act (FERA) was replaced by Foreign Exchange Management Act (FEMA) in the year 2001
- B FERA was given a sunset clause of one year till 31 st May, 2002 to enable Enforcement Directorate to complete the investigation of pending issues
- C Under FEMA, violation of foreign exchanges rules has ceased to be a criminal offence ✓
- D As per the new dispensation, Enforcement Directorate can arrest and prosecute the people for the violation of foreign exchange rules
✓ Correct answer: (C)
Economy › External Sector & Trade
CSE2003
Which one of the following statements is correct with reference to FEMA in India?
- A was replaced by Foreign Exchange Management Act (FEM
- B FERA was given a sunset clause of one year till 31st May, 2002 to enable Enforcement Directorate to complete the
- C Under FEMA, violation of foreign exchanges rules has ceased to be a criminal offence
- D As per the new dispensation, Enforcement Directorate can arrest and prosecute the people for the violation of foreign
Answer key not yet available (pending official release)
Economy › External Sector & Trade
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