Balance of Payments — Key Judgments

Key Judgments

No direct 'landmark judgments' on Balance of Payments per se, but significant legal/policy milestones under FEMA are crucial.

1999 (FEMA enactment)

The enactment of the Foreign Exchange Management Act (FEMA) in 1999 marked a pivotal shift from a control-oriented regime (FERA) to a management-oriented one. While not a judicial…

RBI's Liberalized Remittance Scheme (LRS) Notifications

2004 onwards (with periodic revisions)

The introduction of the Liberalized Remittance Scheme (LRS) by the RBI in 2004, and its subsequent revisions, represents a significant policy liberalization impacting the capital…