Match the following regarding the Foreign Exchange Management Act (FEMA):
List I:
A. Year of enactment
B. Replaced Act
C. Nature of offenses
D. Key authority
List II:
1. Reserve Bank of India
2. 1999
3. Civil offenses
4. Foreign Exchange Regulation Act
Select the correct answer using the code given below:
Explanation: FEMA was enacted in 1999 (A-2), replacing the Foreign Exchange Regulation Act (B-4). Under FEMA, violations are treated as civil offenses (C-3), and the Reserve Bank of India is the key authority (D-1).
Explanation: FEMA was enacted in 1999 (A-2), replacing the Foreign Exchange Regulation Act (B-4). Under FEMA, violations are treated as civil offenses (C-3), and the Reserve Bank of India is the key authority (D-1).