FERA :- Foreign Exchange Regulation Act
The Foreign Exchange Regulation Act (FERA) was enactment passed in India in 1973 that forced strict directions on particular sorts of installments, the dealings in remote trade (forex) and securities and the exchanges which indirectly affected the outside trade and the import and fare of currency. The bill was defined with the point of controlling installments and outside exchange. FERA came into power with impact from January 1, 1974. FERA was presented when remote trade (Forex) stores of the nation were low, Forex is a rare item.FERA principally restricted all exchanges not allowed by RBI. Coca-Cola was India’s driving soda pop until the point when 1977 when it cleared out India after another administration requested the organization to turn over its mystery equation for Coca-Cola and weaken its stake in its Indian unit as required by the Foreign Exchange Regulation Act (FERA). In 1993, the organization (alongside PepsiCo) returned after the presentation of India’s Liberalization policy.