Multiple outlets report that India’s Reserve Bank of India (RBI) ends a Foreign Exchange Management Act (FEMA) probe into Myntra. The Economic Times states that the RBI clears Myntra of FEMA violations following the regulator’s review. India Today similarly reports that the RBI concludes the probe, indicating that Myntra’s case does not result in further FEMA enforcement action based on the outcome of the assessment.
While the reports confirm the closure of the investigation, they do not provide detailed figures or specific compliance findings in the available excerpts. The coverage focuses on the RBI’s decision to close the matter and communicate that the probe has been resolved. Overall, both sources agree that Myntra faces no ongoing FEMA probe after the RBI’s review is concluded. The reporting frames the development as an RBI clearance/closure of the FEMA investigation rather than an ongoing dispute or additional penalties at this stage.
