Q121
Foreign Exchange Regulation Act was replaced with The Foreign Exchange Management Act in the year.
A.
1973
AnswerB.
1994
C.
1999
D.
1995
Answer: Option A
Solution
Answer: Option A
Solution:
Foreign Exchange Regulation Act was replaced with The Foreign Exchange Management Act in the year 1973 and it came in force from January 1, 1974. It was amended by the Foreign Exchange Regulation (Amendment) Act 1993 and later in 2000, was replaced by FEMA.