Fema & Consumer Protection Act

FEMA & consumer tribute diddle When a business enterprise imports goods from new(prenominal) countries, exports its products to them or makes investments abroad, it deals in foreign exchange. In the light of scotch reforms and the liberalized scenario, FERA was replaced by a new Act called the Foreign mass meeting Management Act (FEMA), 1999.The Act applies to all branches, offices and agencies outside India, own or controlled by a person resident in India. FEMA emerged as an investor friendly legislation which is purely a well-behaved legislation in the sense that its violation implies only remuneration of monetary penalties and fines. The objectives of FEMA are: (i) To Main objective of apply FEMA is to trim back the restriction on foreign exchange. Now, any offensive in foreign exchange will be civil offense not criminal offense. (ii) To promote the nightspotly development and keep of foreign exchange market. (To increase the flow of foreign exchange) The Act has assigned an important role to the Reserve Bank of India (RBI) in the administration of FEMA. The rules, regulations and norms pertaining to several sections of the Act are laid flock by the Reserve Bank of India, in consultation with the primordial Government. OBJECTIVES OF CONSUMER PROTECTION ACT Consumer protection is essential for a healthy economy.

We assume Consumer aegis Act for the following:- * Physical protection of the consumer. * egis against deceptive and unfair trade practices. * Protection against all types of pollution. * Protection against the abuse of monopoly position and/or restrictive trade practices. * Protection of enjoying the rights. The consumer interest in the market place is the focus or the art of enlightened marketing mix. The business and consumerism both study at the protection of consumer interest-business through self-regulation and consumerism through self-help. Consumerism invokes government avail when business misbehaves and fails to... If you want to get a full essay, order it on our website: Ordercustompaper.com

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