Latest News About Contravention

Updated 2026-04-29 05:02

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Contravention: Breach of provisions and norms under FEMA

Contravention is the breach of provisions and norms under the Foreign Exchange Management Act, or FEMA 1999. Compounding of contraventions refers to the process where the individual or the corporate entity can admit the contravention and seek redress from the Reserve Bank, restricted to a specific sum.

economictimes.indiatimes.com