alleryStart learning →Penalty on an authorised person for breaching an RBI direction may extend to:
ARs 10,000
BRs 1 lakh
CRs 2,000
DRs 5,000
Answer & Solution
Correct answer: A. Rs 10,000
Section 11(3) caps the basic penalty at ten thousand rupees, with a daily addition for continuing breaches.
Keep practising Foreign Exchange Management Act 1999
Browse all Foreign Exchange Management Act 1999 questions for CA Inter, or explore more Law topics.
Related questions
Who may regulate a non-resident's setting up of a branch office in India?FEMA borrows the meaning of chartered accountant from:Contraventions under FEMA are treated as:Under FERA, an accused was presumed:FEMA aims at promoting orderly development and maintenance of the:A company receiving FDI files which annual FEMA return?Which of these falls within the meaning of currency in FEMA?Under FEMA, import means bringing into India: