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Regulation 2 - Regulation - FEMA - Regulation 2 - 2. :- In these Regulations unless the context requires otherwise , - (a) Act shall mean the Foreign Exchange Management Act, 1999 (42 of 1999); (b) Financial Institution shall include i. a company, or ii. a firm, or iii. an association of persons or a body of individuals, whether incorporated or not, or iv. any artificial juridical person, not falling within any of the preceding categories engaged in rendering financial services or carrying out f .....

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ies a financial institution is allowed to carry out as specified in the respective Act of the Parliament or by the Government of India or by any Regulatory Authority empowered to regulate the concerned financial institution. (d) Financial transaction shall mean making any payment to, or for the credit of any person, or receiving any payment for, by order or on behalf of any person, or drawing, issuing or negotiating any bill of exchange or promissory note, or transferring any security or acknowl .....

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