RBI/2009-10/513
A.P. (DIR Series) Circular No.57
June 29, 2010
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.70 dated June 30, 2009 increasing the 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.
2. The issue has since been reviewed and it has been decided, in consultation
with the Government of India, to extend the above relaxation up to March 31,
2011.
3. 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 a Special Economic Zone (SEZ) as well as exports made to warehouses
established outside India remains unchanged.
4. AD Category - I banks may bring the contents of this circular to the
notice of their constituents and customers concerned.
5. 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,
( G. Jaganmohan Rao)
Chief General Manager