Black Money – Domestic and International Efforts

Centre yet to notify crucial FEMA amendments

  1. The Union government has not yet notified the amendments to the Foreign Exchange Management Act (FEMA).
  2. These ammendments were incorporated into the legislation after President Pranab Mukherjee’s assent in May 2015.
  3. The delay may have implications for the pending cases of foreign exchange violations, including those allegedly involving the former IPL chief, Lalit Modi.
  4. What do we mean by notifications? Wasn’t the bill already passed by the president!
  1. The Union government has not yet notified the amendments to the Foreign Exchange Management Act (FEMA).
  2. These ammendments were incorporated into the legislation after President Pranab Mukherjee’s assent in May 2015.
  3. The delay may have implications for the pending cases of foreign exchange violations, including those allegedly involving the former IPL chief, Lalit Modi.
  4. What do we mean by notifications? Wasn’t the bill already passed by the president!
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