Published On: Sat, Jan 21st, 2012

Compounding of Contraventions under FEMA, 1999

RBI/2011-12/357
Master Circular No.8 /2011-12 July 01, 2011
(Updated as on January 20, 2012)
To,
All Authorised Dealer Category – I banks and Authorised Banks
Madam / Sir,
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 issued with a sunset clause of one year. This
circular will stand withdrawn on July 1, 2012 and be replaced by an updated Master
Circular on the subject.
Yours faithfully,
(Dr. Sujatha Elizabeth Prasad)
Chief General Manager

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