India, June 25 -- Transcorp International Ltd has received an order from the Reserve Bank of India (RBI), dated June 24, 2025 (received on June 25, 2025), imposing an aggregate penalty of Rs 15,30,000 under Section 11(3) of the Foreign Exchange Management Act (FEMA), 1999.
The penalty was levied for non-compliance with certain guidelines issued by the RBI. The company has clarified that the penalty has no material impact on its financial, operational, or other activities.
Published by HT Digital Content Services with permission from Dion Global Solutions Limited....