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The Reserve Bank of India (RBI) has issued updated Master Directions regarding the compounding of contraventions under the Foreign Exchange Management Act (FEMA), 1999, allowing for the compounding of certain violations upon application. The new guidelines outline the procedures for submitting compounding applications, the associated fees, and the types of contraventions that are eligible or ineligible for compounding. Authorized Dealer banks are instructed to ensure compliance and inform their constituents

Author

divyambhandari86

Language

EN