India:
Master Direction – Levy Of Penal Interest
07 December 2017
Clyde & Co
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The RBI has issued notification dated October 12, 2017, pursuant
to which it has issued Master Direction on Levy of Penal Interest
for Delayed Reporting/Wrong Reporting/Non-Reporting of Currency
Chest Transactions and Inclusion of Ineligible Amounts in Currency
Chest Balances.
This update is authored by Clasis Law, Clyde &
Co's associated firm in India
The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.
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