SENSEX
NIFTY
GOLD
USD/INR

Weather

image 36    C

National News

The Times of India

National / The Times of India

details

Fema a civil law, RBI alone can compound offences, says ED

The Enforcement Directorate clarified Fema's role as civil legislation for voluntary compliance. Reserve Bank of India is the competent authority for compounding eligible contraventions. The ED issues a no-objection certificate to the central bank for compounding offenses. RBI recently closed a Fema case against Apothecon Pharmaceuticals after a penalty. This action follows master directions prescribing a compounding matrix for determining amounts.

17 Jul 2026 1:38 am