Indian Finance Ministry amends FEMA compounding rules, raising monetary limits and allowing online payments for ease of investment.

The Indian Finance Ministry has amended the Foreign Exchange Management Act (FEMA) compounding rules to enhance ease of investment. Key changes include raising monetary limits for Reserve Bank of India (RBI) officials' adjudications and allowing online payments. Application fees have doubled to Rs 10,000. Assistant General Managers can now handle cases up to Rs 60 lakh, while limits for higher ranks have also increased, streamlining the process for foreign investments.

September 12, 2024
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