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Glossary / Also known as

FEMA 1999

Another name for FEMA (Foreign Exchange Management Act).

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Related terms.

Trade and foreign exchange FEMA (Foreign Exchange Management Act) India's primary legislation governing foreign exchange transactions, cross-border investments, and external trade payments. Also called FEMA 1999, foreign exchange regulations Statutory compliance Business Compliance The process of adhering to all applicable laws, regulations, and industry standards that govern business operations in India. Also called corporate compliance, regulatory compliance ROC filing MCA (Ministry of Corporate Affairs) The Government of India ministry responsible for company registration, corporate regulation, and enforcement of the Companies Act and LLP Act. Also called MCA21, corporate affairs ministry Vendor onboarding KYC (Know Your Customer) The mandatory identity verification process used by financial institutions and businesses to confirm client identities and prevent fraud. Also called know your customer checks, KYC verification, customer due diligence Trade and foreign exchange Anti-Money Laundering (AML) Regulations and processes to detect, prevent, and report money laundering activities in the financial system. Also called anti money laundering, PMLA compliance Trade and foreign exchange Benami Transaction A transaction where property is held under a fictitious or proxy name, prohibited and punishable under Indian law. Also called benami property transaction
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