The Hindu·3 min read·hard
ED searches money changers’ premises over alleged FEMA violations
T
The Hindu Bureau
✦AI Summary
The Enforcement Directorate has conducted raids on several money changing firms in Delhi and Uttarakhand over alleged FEMA violations. The agency claims these entities were involved in unauthorized foreign exchange and 'hawala' transactions.
The Enforcement Directorate has searched multiple locations in Delhi and Uttarakhand ’s Rishikesh and Dehradun as part of an inquiry into alleged violations of the Foreign Exchange Management Act (FEMA) and the Reserve Bank of India (RBI) Master Directions governing money changing activities.
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