alleryRBI acts as custodian of forex reserves under which Act?
ACOFEPOSA Act of 1974
BFERA Act of 1973
CFEMA Act of 1999
DCustoms Act of 1962
Answer & Solution
Correct answer: C. FEMA Act of 1999
The Foreign Exchange Management Act (FEMA), 1999 designates the RBI to manage foreign exchange assets.
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