📢 Too many exams? Don’t know which one suits you best? Book Your Free Expert 👉 call Now!


    âš¡ Month End Offer - Flat 52% Off On All Courses! Enroll Now âš¡
    00:00:00 AM Left

    Question

    What is the new maximum penalty limit set by RBI for

    FEMA violations?
    A ₹1 lakh Correct Answer Incorrect Answer
    B ₹1.5 lakh Correct Answer Incorrect Answer
    C ₹2 lakh Correct Answer Incorrect Answer
    D ₹5 lakh Correct Answer Incorrect Answer
    E ₹10 lakh Correct Answer Incorrect Answer

    Solution

    Under the updated provisions of the Foreign Exchange Management Act (FEMA) , the RBI has capped penalties for violations at a maximum of ₹2 lakh , replacing the earlier system that calculated fines as a percentage of the violation amount .

    Practice Next

    Relevant for Exams:

    ask-question