Reserve Bank Of India
A.P. (DIR Series) Circular No. 52
November 20, 2012
To,
All Category - I Authorised Dealer Banks
Madam / Sir,
Export of Goods and Software – Realisation and
Repatriation of export proceeds – Liberalisation
Attention of Authorised Dealer Category-I (AD Category-I) banks is invited to
A.P. (DIR Series) Circular No. 40 dated November 01, 2011 enhancing the period
of realization and repatriation to India of the amount representing the full
export value of goods or software exported, from six months to twelve months
from the date of export. This relaxation was available up to September 30, 2012.
- The issue has since been reviewed and it has been decided, in consultation
with the Government of India, to extend the above relaxation w.e.f. October 01,
2012 till March 31, 2013.
- The provisions in regard to period of realization and repatriation to India
of the full export value of goods or software exported by a unit situated in a
Special Economic Zone (SEZ) as well as exports made to warehouses established
outside India remain unchanged.
- AD Category-I banks may bring the contents of this circular to the notice of
their constituents and customers concerned.
- The directions contained in this circular have been issued under sections 10
(4) and 11(1) of the Foreign Exchange Management Act (FEMA), 1999 (42 of 1999)
and are without prejudice to permissions / approvals, if any, required under any
other law.
Yours faithfully,
(Rashmi Fauzdar)
Chief General Manager
RBI/2012-13/298
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