RBI notification Notification No. FEMA 23(R)/(8)/2026-RB · 05 Jun 2026
Official title
Foreign Exchange Management (Export of Goods and Services) (First Amendment) Regulations, 2026 (Notification No. FEMA 23(R)/(8)/2026-RB dated June 05, 2026)
Summary
Check the official recordThe Reserve Bank of India amends the Foreign Exchange Management (Export of Goods and Services) Regulations, 2015. The amendment reduces the time limit for the realization and repatriation of export proceeds to India. Exporters must now realize and repatriate export proceeds within nine months from the date of export. This replaces the previous fifteen-month limit. The change applies to both general export transactions and specific cases under sub-regulation (2). These regulations take effect from the date of publication in the Official Gazette.
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RESERVE BANK OF INDIA FOREIGN EXCHANGE DEPARTMENT CENTRAL OFFICE Mumbai 400 001
Notification No. FEMA 23(R)/(8)/2026-RB
June 05, 2026
Foreign Exchange Management (Export of Goods and Services) (First Amendment) Regulations, 2026
In exercise of the powers conferred by Section 7, Section 8 and sub-section (2) of section 47 of the Foreign Exchange Management Act, 1999 (42 of 1999), the Reserve Bank of India makes the following amendments to the Foreign Exchange Management (Export of Goods & Services) Regulations, 2015 [Notification No. FEMA 23(R)/2015-RB dated January 12, 2016] (hereinafter referred to as 'the Principal Regulations'), namely:
Short Title and Commencement:- (i) These regulations may be called the Foreign Exchange Management (Export of Goods and Services) (First Amendment) Regulations, 2026 (ii) They shall come into force from the date of their publication in the Official Gazette.
Amendment to Regulation 9: In the principal regulations, in regulation 9 - (i) in sub-regulation (1) for the words ‘fifteen months’, the words ‘nine months’ shall be substituted. (ii) in sub-regulation (2), in clause (a) for the words ‘fifteen months’, the words ‘nine months’ shall be substituted.
(Rohit P. Das) Regional Director
The Principal Regulations were Published in the Official Gazette of Government of India – Extraordinary – Part-II, Section 3, Sub-Section (i) dated 12.01.2016- G.S.R.No.19(E) and subsequently amended vide the following, namely as under:- i. G.S.R.No. 635(E) dated 23.06.2017 ii. FEMA 23(R)/(2)/2019-RB dated December 03, 2019 iii. FEMA 23(R)/(3)/2020-RB dated March 31, 2020 iv. FEMA 23(R)/(4)/2021-RB dated January 08, 2021 v. FEMA 23(R)/(5)/2021-RB dated September 08, 2021 vi. FEMA 23(R)/(6)/2025-RB dated June 24, 2025 vii. FEMA 23(R)/(7)/2025-RB dated November 13, 2025
