How did FEMA change the classification of violations related to foreign exchange? Option: "Violations were decriminalized entirely", "Violations resulted in mandatory imprisonment", "Violations were reclassified as civil offenses", "Violations became subject to international tribunals"

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How did FEMA change the classification of violations related to foreign exchange?

"Violations were decriminalized entirely"

"Violations resulted in mandatory imprisonment"

"Violations were reclassified as civil offenses"

"Violations became subject to international tribunals"

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What was the primary reason for replacing the Foreign Exchange Regulation Act (FERA) with the Foreign Exchange Management Act (FEMA)?

"To enhance national security"

"To align with international trade practices"

"To promote economic growth"

"To simplify foreign exchange regulations"

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What was the significance of the shift from FERA to FEMA for India's economic landscape?

"It primarily benefited state-owned enterprises"

"It led to a more restrictive foreign exchange framework"

"It hindered foreign trade and investment"

"It fostered a more liberal and growth-oriented environment"

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What was a key objective of the Foreign Exchange Regulation Act (FERA)?

"To encourage foreign investment"

"To conserve foreign exchange reserves"

"To promote free trade"

"To facilitate technology transfer"

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Within how many days must money from the sale of foreign investments be brought back to India unless reinvested?

180 days

270 days

90 days

360 days

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What significant regulatory powers were granted to SEBI in 2014?

The authority to set interest rates for commercial banks

The power to control foreign exchange rates

The ability to conduct search and seizure operations and impose stricter penalties for market manipulation

The right to nationalize private companies in the securities market