Wednesday, July 4, 2012

Sebi probe widens to Fema breach

....The new findings broaden the scope of the violations and raise questions over breaches of the Foreign Exchange Management Act (Fema), which deals with laws relating to foreign exchange to facilitate external trade and payments and promote the orderly development and maintenance of the foreign exchange market in India. If indeed this happens, the Reserve Bank of India may step in as Fema violations are investigated by the banking regulator. .....

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