FOREIGN EXCHANGE MANAGEMENT ACT (FEMA) : - Replacing the Foreign Exchange Regulation Act (FERA) the Foreign Exchange Management Act was enacted in 1999, the provisions of which are aimed at consolidating and amending the law relating to foreign exchange transactions with a view to facilitate external trade and payments and development of foreign exchange market. - This change was brought out in...

FISCAL DEFICIT : - The difference between revenue receipts plus non debt capital receipts on one side and total expenditure including loans, net of repayment, on the other side. In other words, this is the budget deficit plus borrowings and other liabilities....

FISCAL POLICY : - Refers to Government's policy towards taxation, public debt, public expenditure, appropriation and similar matters having an effect on the private business and economy of the nation as a whole. - Taxation and public expenditure policies which are at the centre of fiscal policy, are adopted to help dampen the business cycle swings and contribute to the maintenance of growing ec...

FIAT MONEY : - Refers to money, like the currency of the present day, without intrinsic value but decreed (by fiat) to be legal tender by the Government. - Fiat money is accepted only as long people have confidence that it will be accepted as medium of exchange....

FCCB : - A Foreign Currency Convertible Bond (FCCB) is a type of convertibe bond issued in a currency different than the issuer's domestic currency. - In other words, the money being raised by the issuing company is in the form of a foreign currency. - A company may issue an FCCB if it intends to make a large investment in a country using that foreign currency....