RBI
CIRCULAR DATE
1 APRIL 2020
APPLICABLE TO
All Authorised Dealer Category – I Banks
SUBJECT OF THE CIRCULAR
Realisation and Repatriation of Export Proceeds-
Relaxation to increase the present period of realization and repatriation to India of the amount representing the full export value of goods or software or services exported, from nine months to fifteen months from the date of export, for the exports made up to or on July 31, 2020. The provisions in regard to period of realization and repatriation to India of the full export value of goods exported to warehouses established outside India remain unchanged.
FURTHER EXTENSION
In line with this relaxation, it has been decided to increase the maximum permissible period of pre-shipment and post-shipment export credit sanctioned by banks from one year to 15 months, for disbursements made upto July 31, 2020. (May 23, 2020)
