Foreign Exchange and Foreign currencies in India are governed by:

CA Foundation · Business Economics · MTP · May 2026
Foreign Exchange and Foreign currencies in India are governed by:
(A) A. RBI
(B) B. Banking Regulation Act
(C) C. FEMA Act
(D) D. SEBI Act

Suggested Answer and Working Notes:

Correct Answer: Option (C)

C. FEMA Act

Topics: International Trade

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