Start learning →

Without RBI permission, foreign exchange may be dealt in only with:

AAny registered company
BAny resident in India
CAny exchange broker
DAn authorised person
Answer & Solution
Correct answer: D. An authorised person
Section 3(a) bars dealing in or transferring foreign exchange to anyone who is not an authorised person.
Practise this question with Quill — CA Inter →

Keep practising Foreign Exchange Management Act 1999

Browse all Foreign Exchange Management Act 1999 questions for CA Inter, or explore more Law topics.

Start a Foreign Exchange Management Act 1999 lesson →
Related questions
Who may regulate a non-resident's setting up of a branch office in India?FEMA borrows the meaning of chartered accountant from:Contraventions under FEMA are treated as:Under FERA, an accused was presumed:FEMA aims at promoting orderly development and maintenance of the:A company receiving FDI files which annual FEMA return?Which of these falls within the meaning of currency in FEMA?Under FEMA, import means bringing into India: