Foreign Exchange Facilities For Individuals is a must-read for those looking for information on current account transactions for individuals. The book, with its simple and coherent style of writing, is ideal for beginners and bankers interested in learning more about FEMA.
Summary Of The Book
The Foreign Exchange Management Act (FEMA), 1999, is of importance for individuals dealing with foreign exchange or foreign security, and the book Foreign Exchange Facilities For Individuals is worth going through for those seeking to know more about transactions done via current accounts with respect to resident and nonresident individuals.
This educational book contains guidelines regarding the facilities being offered to persons under the FEMA Act. The book comprises of four parts, with the first part giving an introduction to the 1999 Act, the second part providing information on the provisions for transactions carried out through current accounts for resident individuals, the third part dealing with the regulations and policies pertaining to the transactions via current accounts for nonresident individuals and the fourth part highlighting the provisions that permit compounding of contraventions under the Act. There are also case studies given in the book that put the details about FEMA in perspective for interested individuals.
In addition, Foreign Exchange Facilities For Individuals also features the most recent provisions on the topic given by the Reserve Bank of India in May 2012. The book also includes the modifications resulting from the recommendations included in a report given by a committee that reviewed the provisions made for individuals under FEMA.
Published in 2012, Foreign Exchange Facilities For Individuals by the Indian Institute of Banking & Finance (IIBF) is a must-read for novices in the financial sector, as well as for those sitting in the front offices of different banks.
