Economics · Foreign Exchange Laws
Consider the following statements regarding the Foreign Exchange Regulation Act (FERA), 1973: 1. FERA treated foreign exchange violations as criminal offences. 2. FERA was enacted in a highly liberalized open market economic environment. 3. FERA imposed strict statutory control over foreign exchange transactions. Which of the statements given above are correct?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 11, 2 and 3
- 22 and 3 only
- 31 and 2 only
- 41 and 3 only✓
Correct answer
1 and 3 only
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