Compounding of Contraventions under FEMA, 1999

Dated July 01, 2015 | RBI/2015-16/67 | Master Circular No. 9/2015-16 | Master Circular on Compounding of Contraventions under FEMA, 1999 The compounding of contraventions under Foreign Exchange Management Act (FEMA), 1999 is a voluntary process by which an applicant can seek compounding of an admitted contravention of any provision of FEMA, 1999 under Section 13(1) of the FEMA, 1999. 2. This Master Circular consolidates the existing instructions on the subject of ';Compounding of Contraventions under FEMA, 1999'; at one place. The list of underlying circulars / notifications, consolidated in this Master Circular, is furnished in the Appendix. 3. This Master Circular is being updated from time to time as and when the fresh instructions are issued. The date up to which the Master Circular has been updated is suitably indicated. 4. This Master Circular may be referred to for general guidance. The Authorised Persons and the Authorised Dealer Category – I banks may refer to respective circulars/ notifications for detailed information, if so needed.

Yours faithfully,

(B.P.Kanungo) Principal Chief General Manager