<s>[INST] What are the major provisions covered in FEMA, 1999? [/INST] The major provisions of FEMA, 1999 relate to following matters :

Dealing in foreign exchange, etc.
Holding of foreign exchange, etc.
Current account transactions
Capital account transactions
Accquistion and transfer of Immovable property in India
Accquistion and transfer of Immovable property outside India
​Export of goods and services
Realization and repatriation of foreign exchange
Exemption from realization and repatriation in certain cases.
Provisions relating to authorised persons. i.e. authorised by RBI to deal with foreign exchange or in foreign securities
Power of RBI to inspect authorized person
Contravention and penalties
Adjudication and appeal
Directorate of enforcement
Miscellaneous provisions
For more details on FEMA refer to the FAQ section at www.rbi.org.in </s>