Section 47 of FEMA : Section 47: Power To Make Regulations
FEMA
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Explanation using Example
Imagine a software company in India that wants to borrow funds from a foreign investor. Under the Foreign Exchange Management Act (FEMA) 1999, the Reserve Bank of India (RBI) has the authority to regulate such capital account transactions. The company needs to ensure that the amount borrowed is within the permissible limits set by the RBI.
For this purpose, the RBI issues regulations under Section 47 of FEMA, which might ...
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