EY refers to the global organization, and may refer to one or more, of the member firms of Ernst & Young Global Limited, each of which is a separate legal entity. Ernst & Young Global Limited, a UK company limited by guarantee, does not provide services to clients.
Recent Searches
RBI updated the payment process and application format for Compounding of Contraventions under FEMA, 1999 (Compounding Directions)
The Reserve Bank of India (RBI) has revised the account details for receiving the compounding application fee and the sum for which a contravention is compounded (commonly referred to as the compounding penalty).
Accordingly, the account details for receiving compounding application fee and compounding amount through National Electronic Funds Transfer (NEFT)/Real-Time Gross Settlement (RTGS) in the Annexure I to Compounding Directions have been updated.
Additionally, the email intimation template for payments made through online mode has been revised. The updated template now includes additional fields such as mobile number, mode of submission (PRAVAAH/physical), and resubmission details, replacing the earlier format.
Source: A.P. (DIR Series) Circular. No 15/2025-26 dated 24 November 2025