law: Foreign Exchange Management Act, 1999 
  11. Reserve Bank's powers to issue directions to
  
  authorized person 
  (1) The Reserve Bank may, for the purpose of securing compliance
  
  with the provisions of this Act and of any rules, regulations, notifications or
  
  directions made thereunder , give to the authorized
  
  persons any direction in regard to making of payment or the doing or desist
  
  from doing any act relating to foreign exchange or foreign security.
  (2) The Reserve Bank may, for the purpose of ensuring the
  
  compliance with the provisions of this Act or of any rule, regulation,
  
  notification, direction, or order made thereunder ,
  
  direct any authorized person to furnish such information, in such manner, as it
  
  deems fit.
  (3) Where any authorized person contravenes any direction given
  
  by the Reserve Bank under this Act or fails to file any return as directed by
  
  the Reserve Bank, the Reserve Bank may, after giving reasonable opportunity of
  
  being heard, impose on the authorized person a penalty which may extend to ten
  
  thousand rupees and in the case of continuing contravention with an additional
  
  penalty which may extend to two thousand rupees for every day during which such
  
  contravention continues.