Section 11 of FEMA : Section 11: Reserve Bank'S Powers To Issue Directions To Authorised Person
FEMA
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Explanation using Example
Imagine a scenario where a travel agency in India, which is an authorized dealer of foreign exchange, is directed by the Reserve Bank of India (RBI) to stop processing transactions involving the purchase of a particular foreign currency due to regulatory concerns. This direction is issued to ensure compliance with the Foreign Exchange Management Act, 1999 (FEMA).
The travel agency must comply with this directive and cease any transactions involving that cur...
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