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of <h1>RBI Revamps FEMA Contravention Guidelines, Streamlines Compounding Process with Enhanced Application Requirements</h1> A regulatory circular from the Reserve Bank of India amends guidelines for compounding contraventions under the Foreign Exchange Management Act (FEMA), 1999. Key changes include: delinking compounding amounts from previous orders, and requiring additional details in application submissions such as mobile number, payment office, and application submission mode. These modifications aim to improve processing efficiency and reconciliation of compounding applications.
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