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The circular amends the Master Directions on compounding of contraventions under the Foreign Exchange Management Act, 1999 by revising the bank account details for receipt of compounding application fees and compounding amounts through NEFT/RTGS and other electronic modes. Annexure I now specifies updated account numbers, IFSC codes, and contact emails for the central office, a designated cell, and all regional offices, along with addresses and contact details for submission of compounding applications. Applicants must email specified payment details to the relevant office within two hours of payment. The directions are issued under sections 10(4) and 11(1) of FEMA, 1999.
The circular amends the Master Directions on compounding of contraventions under the Foreign Exchange Management Act, 1999 by revising the bank account details for receipt of compounding application fees and compounding amounts through NEFT/RTGS and other electronic modes. Annexure I now specifies updated account numbers, IFSC codes, and contact emails for the central office, a designated cell, and all regional offices, along with addresses and contact details for submission of compounding applications. Applicants must email specified payment details to the relevant office within two hours of payment. The directions are issued under sections 10(4) and 11(1) of FEMA, 1999.
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