https://www.taxtmi.com/news?id=17142 The Reserve Bank imposed administrative penalties on five foreign banks for violations of reporting instructions under the Foreign Exchange Management Act, 1999, exercising powers under Section 11(3) of FEMA after issuing show cause notices, considering written and oral submissions, and concluding that the banks breached reporting requirements. en-us Thu, 22 Dec 2016 09:59:45 +0530 Thu, 22 Dec 2016 09:59:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=17142 The Reserve Bank imposed administrative penalties on five foreign banks for violations of reporting instructions under the Foreign Exchange Management Act, 1999, exercising powers under Section 11(3) of FEMA after issuing show cause notices, considering written and oral submissions, and concluding that the banks breached reporting requirements. News - Thu, 22 Dec 2016 09:59:45 +0530 https://www.taxtmi.com/news?id=17142