Multiple choice

FERA has been replaced by _________

  1. ERFA

  2. FEMA

  3. FENA

  4. no change

Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

The Foreign Exchange Regulation Act (FERA) was repealed and replaced by the Foreign Exchange Management Act (FEMA) in 1999 to liberalize foreign exchange controls in India.