Question
Which of the following penalty can be imposed for
contravention of the provisions of FEMA?Solution
S.13. Penalties.—(1) If any person contravenes any provision of this Act, or contravenes any rule, regulation, notification, direction or order issued in exercise of the powers under this Act, or contravenes any condition subject to which an authorisation is issued by the Reserve Bank, he shall, upon adjudication, ü be liable to a penalty up to thrice the sum involved in such contravention where such ü amount is quantifiable, or up to two lakh rupees where the amount is not quantifiable, and where such ü contravention is a continuing one, further penalty which may extend to five thousand rupees for every day after the first day during which the contravention continues.
The Reserve Bank of India (RBI) recently revised the timeline for the completion of various stages of a Regulatory Sandbox (RS) to:
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Liabilities: Trade Payab...
Which inventory costing formula calculates value of closing inventory considering that inventory most recently purchased has not been sold?
Interim Dividend can be paid out of which of the following?
Which bank received a $500million loan from the International Finance Corporation (IFC) for microloans to underserved women?
According to the Master Circular on KYC norms issued in January 2024, what is the minimum denomination for the issuance of Non-Convertible Debentures (N...
A capital budgeting technique which does not require the computation of cost of capital for decision making purposes is:
Under the revised framework for Commercial Papers (CPs), what is the requirement for settlement of primary issuance of CPs in terms of time?
Consider the following statements.
1)Â Â Â Â Â The IFSCA Act empowers the IFSCA to make regulations for the development of financial services...
Microfinance institutions have seen a deterioration in NPA levels recently. Who regulates microfinance institutions in India?
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