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In recent years, the Reserve Bank of India (RBI) has taken various measures to ensure that banks and other financial institutions comply with its regulations and guidelines. One such measure is the RBI compounding application, which allows entities to settle their non-compliance issues with the central bank by paying a monetary penalty. In this article, … Read More “RBI Compounding Application: Understanding the Process and Its Benefits” »
The Reserve Bank of India (RBI) has established guidelines for businesses that wish to apply for compounding, a process that allows them to resolve certain non-compliance issues without facing legal consequences. Compounding is a useful mechanism for businesses to regularize their non-compliant activities and avoid lengthy legal proceedings. However, the application process for compounding can … Read More “Demystifying RBI Compounding Application Process: A Comprehensive Guide for Businesses” »
It is considered infringement when a breach of the Foreign Exchange Management Act, 1999, or the regulations that accompany it, occurs. Under Section 13 of the Foreign Exchange Management Act, 1999, compounding refers to admitting a contravention and seeking redress. In addition, it applies to sections that are not compatible with the Reserve Bank of … Read More “Who Can Apply for RBI Compounding Application?” »
