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of <h1>FEMA Offence Compounding Procedures Updated: Roles of RBI & Enforcement Directorate, 180-Day Rule, Fee Details Explained</h1> The procedures for compounding offences under the Foreign Exchange Management Act (FEMA) up to September 2024. It specifies the roles of the Reserve Bank of India (RBI) and the Enforcement Directorate as Compounding Authorities. The compounding process is divided into two categories: by the RBI and by the Enforcement Directorate, with jurisdiction determined by the financial amount involved. Applications must be submitted with a fee, and compounding must occur within 180 days of application receipt. Rules also address exemptions, procedural requirements, and the consequences of non-payment of compounded amounts. Compounding authority decisions must be documented and communicated to adjudicating authorities.
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