Exporters must now bring money home in nine months, not fifteen: RBI changes FEMA export rules
RBI FEMA Exports and imports 25 September 2026 If you sell goods or services abroad, the money must now reach India within nine months of the export instead of fifteen. The Reserve Bank of India (RBI) has made this change in the rules under the Foreign Exchange Management Act (FEMA), and it applies from 1 October 2026 . The longer outer limit also drops from eighteen months to twelve. Reference Notification No. FEMA 23(R)/(1)/2026-RB Dated 22 September 2026 Gazette 24 September 2026 In force from 1 October 2026 Applies to Exporters, importers and AD banks In short Time to receive export payment: 15 months becomes 9 months . An export shipped on 15 October 2026 should be paid for by 15 July 2027. The longer outer limit: 18 months becomes 12 months . Exporters already on RBI's Caution List (a list of exporters who delayed payments) on 30 September 2026 stay under their existing orders. Your bank can now settle older export and import c...