Why did the ED issue a penalty on BBC World Service India and what was the penalty amount
ED issues an order levying penalty of over ₹3.44 crore on BBC World Service India for alleged FEMA violations.
- Enforcement Directorate (ED) imposed a penalty of over ₹3.44 crore on BBC World Service India for alleged violations of the Foreign Exchange Management Act (FEMA).
- The penalty was issued after a show cause notice was issued to investigate the alleged violations.
- ED found that BBC World Service India had violated FEMA regulations related to foreign remittances without prior approval from the Reserve Bank of India.
- The penalty amount of ₹3.44 crore was calculated based on the gravity of the violation and the amount involved in the contravention.
- BBC World Service India has the option to appeal against the penalty order.
Answered
2 months ago