RBI Restores Export Proceeds Realisation Period to 9 Months

The Reserve Bank of India (RBI) has notified the Foreign Exchange Management (Export of Goods and Services) (First Amendment) Regulations, 2026, revising the timeline for realisation and repatriation of export proceeds under the FEMA framework.

The amendment restores the normal export proceeds realisation period by reducing the permissible timeline from 15 months to 9 months.

1. Amendment to Regulation 9

The amendment has been made to Regulation 9, which deals with the period within which the export value of goods, software and services must be realised and repatriated to India.

The revised provision applies to exporters of goods, software and services covered under the Foreign Exchange Management regulations.

2. Realisation and Repatriation Period Reduced to 9 Months

Under the amended regulations, exporters are required to realise and repatriate the full value of exports within:

9 months from the date of export

The RBI has thereby withdrawn the extended timeline of 15 months that had been available earlier.

3. Restoration of Pre-Extension Timeline

The 15-month period had been introduced as a relaxation to facilitate exporters under prevailing economic and trade conditions.

With the latest amendment, the RBI has restored the standard timeline of 9 months for:

• Export of goods;
• Export of software; and
• Export of services.

4. Impact on Exporters

Exporters will now be required to:

• Monitor export receivables more closely;
• Ensure timely collection of export proceeds;
• Repatriate foreign exchange earnings within the prescribed period; and
• Strengthen compliance with FEMA reporting and monitoring requirements.

Failure to realise export proceeds within the prescribed timeline may require approval or regularisation under applicable FEMA provisions.

5. Effective Date

The Foreign Exchange Management (Export of Goods and Services) (First Amendment) Regulations, 2026 have come into force from 05 June 2026

Accordingly, the revised 9-month period shall apply from the effective date of the amendment.

6. Objective of the Amendment

The amendment seeks to restore the normal FEMA compliance framework governing export proceeds and ensure timely repatriation of foreign exchange earnings into India.

By reducing the realisation period from 15 months to 9 months, the RBI aims to strengthen foreign exchange monitoring, improve export receivable discipline and align export proceeds realisation requirements with the standard regulatory framework.