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GS Paper IUPSC Prelims 2003
Miscellaneous
Question No. 442Interactive Test Mode
00:00
+2-0.66

Q442. Which one of the following statements is correct with reference to FEMA in India?

Which one of the following statements is correct with reference to FEMA in India?

Select the correct option below (or cross out options to eliminate)
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Official Answer Key & Detailed Solution

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Official UPSC Answer KeyUPSC Prelims 2003 • General Knowledge (1995-2010)

Correct Answer: Option (C) — Under FEMA, violation of foreign exchange rules has ceased to be a criminal offence

Concept & Option Breakdown

Standard Reference Verified

Under the Foreign Exchange Management Act (FEMA), 1999 (which replaced FERA, 1973 in June 2000), contraventions of foreign exchange regulations are treated as civil offenses subject to financial penalties, rather than criminal offenses involving imprisonment and strict arrest procedures as was the case under FERA.

Elimination Heuristic & Exam Approach

FEMA decriminalized foreign exchange violations, converting them into civil compoundable contraventions.

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Question Specifications & Syllabus Mapping

Examination & YearUPSC Civil Services Preliminary Examination 2003 (Q442)
Paper & Marking SchemeGS Paper I • 2 Marks (-0.66 Negative for incorrect response)
Syllabus Subject & TopicGeneral Knowledge (1995-2010) → Miscellaneous
Official Answer KeyOption (C) — Under FEMA, violation of foreign exchange rules has ceased to be a criminal offence

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Frequently Asked Questions — UPSC Prelims 2003 Q442

What is the official answer for UPSC Prelims 2003 GS Paper I Question 442 (General Knowledge (1995-2010))?

The official UPSC answer key for this 2003 General Knowledge (1995-2010) (Miscellaneous) question is Option (C): "Under FEMA, violation of foreign exchange rules has ceased to be a criminal offence". Correct attempts carry 2 Marks with -0.66 Negative penalty for wrong answers.

Which UPSC Prelims syllabus topic does this 2003 question belong to?

This question belongs to GS Paper I under the subject "General Knowledge (1995-2010)" and micro-topic "Miscellaneous". You can explore all repeated questions from Miscellaneous in Acme AI's 3D Prelims PYQ Realm or practice 50 full-length and sectional tests in the APT Prelims Test Series.

How can I solve this Miscellaneous UPSC Prelims question using option elimination?

FEMA decriminalized foreign exchange violations, converting them into civil compoundable contraventions.

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