RBI extends period of realisation of export proceeds by one year

Mumbai, June 3 (UNI) The Reserve Bank of India today enhanced the present period of realisation 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, subject to review, after one year.

The provisions, in regard to period of realisation and repatriation to India, of the full export value of goods or software, exported by a unit situated in Special Economic Zone (SEZ) as well as exports made to warehouses established outside India, with the permission of Reserve Bank remain unchanged, RBI said in a notification here today.

The extension period had already been announced in the annual policy statement for the year, following representations received from Exporters/Trade bodies to extend the period of realisation of export proceeds, in view of the external environment.

UNI VK SR AG1937