The Centre for Risk, Compliance & Governance Studies
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  • Contravention under FEMA

    Contravention under FEMA refers to any violation of its provisions, rules, or directions issued by the Reserve Bank of India. It includes unauthorized forex transactions, non-reporting of foreign assets, or delays in repatriation. Penalties include fines up to thrice the amount involved. Such enforcement ensures India's foreign exchange regulations are strictly followed to protect economic stability.