Exchange Rate Regimes — Landmark Judgments

Landmark Judgments

S.R. Bommai v. Union of India (1994)

1994

While not directly on exchange rates, this landmark judgment on federalism and the misuse of Article 356 has broader implications for economic policy autonomy. It reinforced the…

Enactment of Foreign Exchange Management Act (FEMA), 1999

1999

Though a legislative act rather than a judicial pronouncement, the replacement of FERA (Foreign Exchange Regulation Act) with FEMA was a landmark policy and legal shift directly…