What is the full form of FEMA ?

Correct option is B

FEMA stands for the Foreign Exchange Management Act, which is a law enacted by the Government of India to manage foreign exchange in the country. It replaced the earlier Foreign Exchange Regulation Act (FERA).
Important Key Points:
1. FEMA aims to facilitate external trade and payments.
2. It seeks to promote the orderly development and maintenance of the foreign exchange market.
3. The act regulates dealings in foreign exchange and securities.
4. It applies to all branches, offices, and agencies outside India owned or controlled by an Indian resident.
Information Booster:
 Funds Exchange Media Agency: Incorrect and unrelated to foreign exchange management.
 Finance and Export Management Association: Not related to the regulation of foreign exchange.
 Foreign Export Market Agency: Incorrect and not relevant to the context of foreign exchange regulation.