The Reserve Bank of India has amended its Master Directions on compounding of contraventions under the Foreign Exchange Management Act, 1999 (FEMA) to change the account details used to receive compounding application fees and the amount payable when a contravention is compounded. The updated payment instructions apply to receipts made through National Electronic Funds Transfer (NEFT) and Real Time Gross Settlement (RTGS), with Annexure I of the Master Directions modified to reflect the revised account details. The RBI directed all Authorised Persons to bring the amended guidelines to the attention of their constituents and noted the directions are issued under sections 10(4) and 11(1) of FEMA, without prejudice to any other permissions or approvals that may be required under other laws.
Reserve Bank of India 2025-11-24
Reserve Bank of India amends FEMA compounding directions to revise NEFT and RTGS account details for application fees and compounding amounts
The Reserve Bank of India revised its Master Directions on compounding contraventions under the Foreign Exchange Management Act, 1999, updating account details for compounding application fees. Changes affect payments via National Electronic Funds Transfer and Real Time Gross Settlement, with Annexure I reflecting new details. All Authorised Persons must inform constituents of these amendments, issued under sections 10(4) and 11(1) of FEMA.