NISM Series XIII Common Derivatives Certification Exam Notes
Page 178 Of 303
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Net Worth Criteria for Exchange:Exchange must have a minimum net worth of Rs. 100 crores.
Net Worth for Members:Trading members need Rs. 1 crore net worth; clearing members require Rs. 10 crores.
Foreign Exchange Management Act (FEMA):Replaced FERA to facilitate external payments and orderly forex market development.
Scope of FEMA:Covers holding, realization, repatriation, and dealings in foreign exchange and securities.
Applicability:
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