Economics · Foreign Exchange Laws
What was the primary objective of the Foreign Exchange Regulation Act (FERA), 1973?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1To encourage full capital account convertibility
- 2To fully liberalize external commercial borrowings
- 3To regulate and conserve foreign exchange resources of the country✓
- 4To promote free foreign trade and inward foreign direct investment
Correct answer
To regulate and conserve foreign exchange resources of the country
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