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Download the FEMA app for real-time weather alerts, safety top and disaster resources -- all in the palm of your hand. Prepare, plan and stay safe, wherever you are. This question is for testing whether you are a human visitor and to prevent automated spam submission. What code is in the image? Your support ID is: 4427249776979759907 . An Act to consolidate and amend the law relating to foreign exchange with the objective of facilitating external trade and payments and for promoting the orderly development and maintenance of foreign exchange market in India. FEMA was enacted in 1999 to regulate foreign exchange in India, replacing the Foreign Exchange Regulation Act (FERA). The Act aims to facilitate external trade, promote foreign investments, and maintain the stability of India’s foreign exchange market.