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of <h1>RBI updates FEMA compounding fee payment and application process under Sections 10(4) and 11(1) FEMA, 1999</h1> The circular amends the Master Directions on compounding of contraventions under FEMA, 1999 by revising the bank account details for receipt of compounding application fees and compounding amounts through NEFT/RTGS. Annexure I now specifies updated account numbers, IFSC codes, and email IDs for the Central Office, CO Cell New Delhi, and all Regional Offices, along with a prescribed email intimation format to be sent within two hours of payment. It also lists the RBI offices where compounding applications must be submitted, with addresses and contact numbers. Authorised persons must inform their constituents. The directions are issued under sections 10(4) and 11(1) of FEMA, 1999.
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