Reserve Bank of India can compound FEMA violations except Section 3(a) with varying authority levels based on amount involved

The Reserve Bank of India has authority to compound contraventions under the Foreign Exchange Management Act, 1999, except Section 3(a) violations. Compounding authority varies by amount involved: Assistant General Manager for amounts up to ten lakhs rupees, Deputy General Manager for ten to forty lakhs, General Manager for forty to one hundred lakhs, and Chief General Manager for amounts exceeding one hundred lakhs. Contraventions cannot be compounded if the amount is not quantifiable or if the person committed a similar violation within three years of a previous compounding. Applications require Form submission with five thousand rupees fee.

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