Why was FEMA needed? June 14, 2021 – by admin Question: Why was FEMA needed? A. Maintenance of Foreign Exchange Market in India B. Maintenance of Foreign Currency in Abroad C. Maintenance of Foreign Exchange Market in America D. Maintenance of Foreign Currency in IMF Answer» a. Maintenance of Foreign Exchange Market in India Note: The above multiple-choice question is for all general and Competitive Exams in India.