Foreign Exchange Regulations have been liberalized over the years to facilitate remittance funds in and outside India. Government of India is changing these regulations on continuous basis to introduce ease in the remittance of Funds in India from foreign countries.
However, there are certain cases which require prior approval from the foreign regulatory authorities for foreign exchange transactions and remittances.
For operations of these regulations in India, one has to take key approval of Reserve Bank of India. RBI also regulates Foreign Exchange or Foreign Exchange Management Act, 1999 (FEMA) in India.
FEA is an important act which looks after the Indians who have gone outside India and for those foreign nationals who are working in India.


