Master Directions – Compounding of Contraventions under FEMA, 1999

The Reserve Bank of India’s Master Direction dated April 22, 2025, consolidates guidelines for compounding contraventions under the Foreign Exchange Management Act (FEMA), 1999, in line with the updated Foreign Exchange (Compounding Proceedings) Rules, 2024. It outlines procedures for applications, specifies cases eligible for compounding, and emphasizes compliance responsibilities for Authorised Dealer banks.

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