RBI was granted statutory powers to control foreign exchange through the Foreign Exchange Regulation Act (FERA) in which year?
RBI was granted statutory powers to control foreign exchange through the Foreign Exchange Regulation Act (FERA) in which year?
आर. बी. आई. (RBI) को, विदेशी मुद्रा विनियमन अधिनियम (FERA) _____________द्वारा मुद्रा विनिमय नियंत्रण हेतु वैधानिक शाक्तियां प्रदान की गई थीं।
Detailed Solution & Logic
Correct Answer:
1947
Explanation:
The Foreign Exchange Regulation Act (FERA), 1947 was introduced in India. Under this Act, the Reserve Bank of India (RBI) was given statutory powers to regulate and control foreign exchange transactions. Later, FERA was amended and replaced by FERA, 1973, and eventually by FEMA (Foreign Exchange Management Act) in 1999.
So, the correct answer is 1947.
Similar Practice Questions
Why must an Indian buyer convert rupees to dollars when purchasing from the U.S.?
Why must an Indian buyer convert rupees to dollars when purchasing from the U.S.? अमेरिका...
What was the main aim of IRDP (Integrated Rural Development Programme) ?
What was the main aim of IRDP (Integrated Rural Development Programme) ? IRDP ( एकीकृत...
What is the type of unemployment that occurs during the transition between jobs?
What is the type of unemployment that occurs during the transition between jobs? लोगों के...
What has been the main economic focus of India’s growth since the 1991 reforms initiated by Dr. Manmohan Singh?
What has been the main economic focus of India’s growth since the 1991 reforms initiated...
What does the Happiness Index Primarily measure?
What does the Happiness Index Primarily measure? हैप्पीनेस इंडेक्स मुख्य रूप से क्या मापता हैं?
Where is the Indian Institute of Foreign Trade (IIFT) located?
Where is the Indian Institute of Foreign Trade (IIFT) located? भारतीय विदेश व्यापार संस्थान कहाँ...
The National Rural Drinking Water Programme (NRDWP) was launched in which year ?
The National Rural Drinking Water Programme (NRDWP) was launched in which year ? राष्ट्रीय ग्रामीण...