Bravo had been charged with failing to 'conduct play within the spirit of the game' over his catch that dismissed England's Michael Yardy in Saturday's game in Ahmedabad.
"Television replays appeared to show the ball bounced, but Dwayne thought he had taken the catch cleanly," match referee Mike Procter said after Sunday's hearing.
"From my experience as a player I know that can happen, but we needed to ask the question to make sure it was a genuine mistake by the player.
"For that reason the umpires were right to lay the charge but after we all talked it through I had no reason to disbelieve Dwayne's version of events," Procter added.
Bravo scored a maiden century in the match that England clinched by three wickets.
Holders West Indies meet South Africa in the semi-finals in Jaipur on Nov. 2.
