Which of the following regulatory body in India is responsible for enforcing Foreign Exchange Management Act (FEMA)?

(a) Securities and Exchange Board of India (SEBI)
(b) Reserve Bank of India (RBI)
(c) Ministry of Finance
(d) Securities Appellate Tribunal (SAT)

Ans.(b)
Sol. RBI is the regulatory body responsible for enforcing FEMA and ensuring compliance with its provisions.