The updated guidelines simplify the compounding of contraventions under FEMA and provide revised procedures and penalty structures. Read on to know more
The Reserve Bank of India ( RBI ) on 1 October, 2024 issued A.P. (DIR Series) Circular titled “Directions – Compounding of Contraventions under The Foreign Exchange Management Act, 1999 ( FEMA )”. The Circular, addressed to All Authorised Dealer Category – I banks and Authorised banks has been issued by the Reserve Bank as…
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