a) RBI vide notification RBI/2020-21/67 A.P. (DIR Series) Circular No. 06 dated November 10, 2020 has delegated compounding powers to the Regional Offices/ Sub Offices of the Reserve Bank under FEMA, 1999.
b) The attention of Authorized Dealer Category-I (AD Category-I) banks is invited to paragraph 3 of the Master Direction on “Compounding of Contraventions under FEMA, 1999”, in terms of which the powers to compound certain contraventions of Notifications FEMA 20/2000-RB dated May 3, 2000 and FEMA 20(R)/2017-RB dated November 07, 2017 have been delegated to the Regional Offices/Sub-Offices of the Reserve Bank for enhanced customer service and operational convenience
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