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What is FEMA ?

  • First Exchange Management Act
  • Foreign Exchequer Management Act
  • Foreign Exchange Management Act
  • Foreign Evaluation Management Act

Answer: Option C

Explanation:

FEMA is Foreign Exchange Management Act, it came into force in July 2000. It replaced Foreign Exchange Regulation Act 1973.

Similar Questions :

1. The banks are required to maintain a certain ratio between their cash in hand and total assets. This is called ?

  • Statutory Liquid Ratio
  • Cash Reserve Ratio
  • Liquid Ratio
  • Statutory Ratio

Answer: Option A

2. Iron and steel industry started in India in the year ?

  • 1855
  • 1860
  • 1865
  • 1870

Answer: Option D

Explanation:

Iron and steel industry started in India in the year 1870, when Bengal Iron Works company established its plant in Kulti, West Bengal.

3. Sales Tax is

  • Direct Tax
  • Indirect Tax
  • Tax imposed by central government
  • Tax imposed by state government

Answer: Option B

Explanation:

Direct Taxes are : Income Tax, Property Tax, Gift Tax etc.

Indirect Taxes are : Sales Tax, Excise Tax, Custom Duty etc.

4. Deficit financing means that the government borrows money from the ?

  • Revenue Department
  • World Bank
  • RBI
  • None of above

Answer: Option C

5. "Blue sky laws" is a term used for laws which are :

  • Only for personal interest of a political party.
  • Which cheaters can use to fraud public.
  • Which are there to protect public from securities frauds.
  • Which are created in hurry.

Answer: Option D

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