What was a key objective of the Foreign Exchange Regulation Act (FERA)? Option: "To encourage foreign investment", "To promote free trade", "To facilitate technology transfer", "To conserve foreign exchange reserves"

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

"To encourage foreign investment"

"To promote free trade"

"To facilitate technology transfer"

"To conserve foreign exchange reserves"

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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 simplify foreign exchange regulations"

"To enhance national security"

"To align with international trade practices"

"To promote economic growth"

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

"It led to a more restrictive foreign exchange framework"

"It hindered foreign trade and investment"

"It primarily benefited state-owned enterprises"

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

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Which of the following initiatives by the Indian government aims to attract more Foreign Direct Investment (FDI)?

Restricting foreign investment in key sectors like defense and oil refineries.

Encouraging short-term portfolio investments over long-term direct investments.

Tightening FDI norms across various industries.

Relaxing FDI regulations in sectors like defense, telecom, and power.

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

90 days

270 days

180 days

360 days

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What is the primary function of the Reserve Bank of India?

To regulate stock markets

To provide financial services to individuals

To act as a banker to the government

To manage foreign exchange reserves