India's anti-money laundering agency Enforcement Directorate (ED) has imposed a penalty of more than Rs 3.44 crore on BBC World Service India for alleged contravention of foreign direct investment (FDI) regulations, PTI reported yesterday quoting the agency officials.

The ED also fined three of its directors more than Rs 1.14 crore each and issued an adjudication order against the British broadcaster under stringent Foreign Exchange Management Act (FEMA).

The adjudication proceedings were initiated after a showcause notice was issued on August 4, 2023, to BBC World Service India, its three directors, and the finance head for various "contraventions" under the law.