Foreign exchange means exchanging one country’s money for another, like trading US Dollars for Indian Rupees. Since India trades with many countries every day, it’s important to keep track of this exchange. To manage this process, the Indian government created the Foreign Exchange Management Act (FEMA) in 1999. FEMA replaced an older law called FERA and changed the focus from strict c... https://www.corpzo.com/understanding-fema-and-fla-return-a-gateway-to-indias-foreign-exchange-compliance