Foreign exchange compounding orders to be publicly disclosed and computation guidance for penalties published online. Reserve Bank will publicly host compounding orders on its website and publish the guidance note used to compute amounts under section 13 of FEMA. The guidance prescribes a fixed-plus-variable computation matrix for categories of contraventions, sets ceilings (including a 300% cap and interest-based limits for small contraventions), provides graded multipliers for certain cases, allows neutralisation of undue gains, trebling in specified guarantee reinvestment situations, and enhancement for repeat contraventions; procedural rounding and office-specific ceilings are explained and illustrative calculations are appended.
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Provisions expressly mentioned in the judgment/order text.
Foreign exchange compounding orders to be publicly disclosed and computation guidance for penalties published online.
Reserve Bank will publicly host compounding orders on its website and publish the guidance note used to compute amounts under section 13 of FEMA. The guidance prescribes a fixed-plus-variable computation matrix for categories of contraventions, sets ceilings (including a 300% cap and interest-based limits for small contraventions), provides graded multipliers for certain cases, allows neutralisation of undue gains, trebling in specified guarantee reinvestment situations, and enhancement for repeat contraventions; procedural rounding and office-specific ceilings are explained and illustrative calculations are appended.
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