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Introducing the “In Favour Of” filter in Case Laws.
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of <h1>RBI Master Circular Simplifies Voluntary Compounding of FEMA 1999 Contraventions, Reduces Costs, Details Procedures and Authorities Roles.</h1> The Master Circular on Compounding of Contraventions under FEMA, 1999, issued by the Reserve Bank of India, outlines the process for voluntarily compounding contraventions under the Foreign Exchange Management Act (FEMA), 1999. It consolidates instructions related to compounding contraventions, detailing the powers of the Reserve Bank and the Directorate of Enforcement. The circular specifies the procedures for application, the scope of compounding, and the roles of various authorities. It includes guidelines for compounding orders, post-compounding procedures, and pre-requisites, aiming to simplify compliance and reduce transaction costs while ensuring serious violations are addressed appropriately.
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