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Draft - Export and Import of Goods and Services

RBI/2024-25/XX
A.P. (DIR Series) Circular No. XX

July XX, 2024

All Authorised Dealers - Category I banks

Madam / Sir,

Export and Import of Goods and Services

Reserve Bank of India, in exercise of the powers conferred under Foreign Exchange Management Act 1999 (42 of 1999) and in supersession of Master Direction – Export of Goods and Services and Master Direction – Import of Goods and Services, hereby issues the  directions on export and import of goods and services.

2. The detailed operational instructions in this regard are given in Annex-I. A list of circulars superseded (w.e.f.  XXXX) is given in Annex-II.

3. AD banks may bring the contents of the circular to the notice of their customers/ constituents concerned.

4. The directions contained in this circular have been issued under Section 10(4) and 11(1) of the Foreign Exchange Management Act 1999 (42 of 1999) and are without prejudice to permission /approvals, if any, required under any other law.

Yours Sincerely,

(N Senthil Kumar)
General Manager


Annex-I

Directions to Authorised Dealers on Export and Import of Goods and Services

1. Introduction

Authorised Dealers Category-I banks (AD banks) may be guided by the following rules /regulations under Foreign Exchange Management Act, 1999 (FEMA) while handling transactions related to export and import of Goods and Services.

  1. Notification No. G.S.R. 381(E) dated May 3, 2000 - Foreign Exchange Management (Current Account Transactions) Rules, 2000 as amended from time to time.
  2. Notification No. FEMA 8 /2000-RB dated May 3, 2000 - Foreign Exchange Management (Guarantees) Regulations, 2000, as amended from time to time.
  3. Notification No. FEMA 9 (R)/2015-RB dated December 29, 2015 - Foreign Exchange Management (Realisation, repatriation and surrender of foreign exchange) Regulations, 2015, as amended from time to time.
  4. Notification No. FEMA 10 (R) /2015-RB dated January 21, 2016 - Foreign Exchange Management (Foreign currency accounts by a person resident in India) Regulations, 2015, as amended from time to time.
  5. Notification No. FEMA 5(R)/2016-RB dated April 01, 2016 - Foreign Exchange Management (Deposit) Regulations, 2016, as amended from time to time.
  6. Notification No. FEMA.3(R)/2018-RB dated December 17, 2018 - Foreign Exchange Management (Borrowing and Lending) Regulations, 2018, as amended from time to time.
  7. Notification No. FEMA 14(R)/2023-RB dated December 21, 2023 - Foreign Exchange Management (Manner of Receipt and Payment) Regulations, 2023, as amended from time to time.
  8. Notification No. FEMA XX/2024-RB dated July XX, 2024 - Foreign Exchange Management (Export and Import of Goods and Services) Regulations, 2024.

2. General Directions

(i) AD banks shall facilitate payments for export and import of goods and services including Merchanting Trade Transactions in compliance with the provisions under FEMA and also ensure adherence to the extant Foreign Trade Policy.

(ii) AD banks shall carry out due diligence and ensure bona fides of transaction in compliance with the Know Your Customer (KYC) Directions issued by Reserve Bank.

(iii) AD banks shall report and monitor all transactions in the Export Data Processing and Monitoring System (EDPMS) and Import Data Processing and Monitoring System (IDPMS)1.

(iv) AD banks shall, inter alia, follow up with exporters and importers for:

  1. Realization and repatriation of export proceeds.
  2. Submission of the relevant documentary evidence pertaining to export and import transactions.
  3. Closure and reconciliation of the outstanding entries in EDPMS and IDPMS.

3. Specific Directions

3.1 Declaration of Exports

  1. AD banks shall verify and ensure that exports are duly declared by exporters in terms of Foreign Exchange Management (Export and Import of Goods and Services) Regulations, 2024, before crediting the payment to the exporter’s account.
  2. AD banks shall enter details of service exports in EDPMS, as declared and submitted by their customer only, on the same day of receipt of documentary evidence.
  3. AD banks may exercise discretion in accepting export documents as per proviso under Regulation 3 of Foreign Exchange Management (Export and Import of Goods and Services) Regulations, 2024, in terms of their internal policy after satisfying themselves with the reasons and cause shown by the exporter.

3.2 Timelines for export receivables and import payments

  1. AD banks shall follow up to ensure that an exporter realizes proceeds within the period specified under Regulation 5 of Foreign Exchange Management (Export and Import of Goods and Services) Regulations, 2024.
  2. AD banks shall follow up with an importer to ensure that payment for imports is completed within the period specified in the contract between the importer and overseas seller.
  3. In case of delayed import payments, AD banks may be guided by extant instructions as contained in Foreign Exchange Management (Borrowing and Lending) Regulations, 2018, as amended from time to time.

3.3 Extension of time

(i) AD banks, in terms of their policy, may grant extension of time to exporter beyond the period as specified in Regulation 5 and 6 of Foreign Exchange Management (Export and Import of Goods and Services) Regulations, 2024 in the following cases:

  1. If the exporter has not been able to realize and repatriate export proceeds for reasons beyond its control.
  2. If the exporter has not been able to fulfill the export obligations in case of export advance.

(ii) AD banks, in terms of their policy, may grant extension of time to importer beyond period as specified in the contract in the following cases:

  1. Delayed settlement of import payments.
  2. If the overseas supplier delays in fulfilling its obligation in case of import advance.

3.4 Set-off of export receivables against import payables

  1. AD banks may allow set-off of export receivables against import payables in respect of the same counterparties, if they are satisfied that the grounds for such requests are legitimate and justifiable.
  2. AD banks shall not allow set-off of export receivables for goods against import payables for services and vice versa.

3.5 Reduction in realisable value of export

  1. AD banks, on request of the exporter, may permit reduction in the full export value after satisfying themselves of the bona fides of such requests.
  2. AD banks shall put up all cases of reductions of more than 25% in the full export value of exports to its Board for post facto ratification.

3.6 Advance receipt for export of goods and services

AD banks shall ensure the following in respect of receipt of advance against export:

  1. Advance payment and documents pertaining to export are routed through the same AD bank.
  2. Rate of interest charged, if any, on the advance for export shall not exceed the all-in-cost ceiling of Trade Credit as per Foreign Exchange Management (Borrowing and Lending) Regulations, 2018, as amended from time to time.
  3. In case the exporter is unable to meet the export obligation as per the terms of contract, the advance received shall be refunded immediately or extension of time shall be sought for the completion of the export obligation as per para 3.3 above.
  4. AD bank shall follow up with the exporter so that the export takes place as per the above directions (including para 3.3. above).
  5. Advances not in compliance to para 3.6(iii) above shall be subject to Regulations 3 of Foreign Exchange Management (Borrowing and Lending) Regulations, 2018, as amended from time to time.

3.7 Advance payment for Import of goods and services

  1. AD banks may, as per their internal assessment and subject to their satisfaction with the track record of the importer, permit advance remittance for an import transaction, subject to conditions, if any, they may specify.
  2. AD banks shall follow up with importers so that import takes place as per terms of contract or the advance made shall be returned immediately or extension of time shall be sought for the completion of the import as per para 3.3 above.
  3. Advances not in compliance to para 3.7(ii) above shall be subject to Regulations 3 of Foreign Exchange Management (Borrowing and Lending) Regulations, 2018, as amended from time to time.

3.8 Export Data Processing and Monitoring System (EDPMS) / Import Data Processing and Monitoring System (IDPMS)

  1. AD banks shall enter details of Shipping Bills (SB)/ Bills of Entry (BoE) as received from Non-EDI (Electronic Data Interchange) port in EDPMS/IDPMS on the same day of receipt of documents, in respect of their customers only.
  2. AD banks shall enter details of service exports in EDPMS, as declared and submitted by their customer only, on the same day of receipt of documents.
  3. AD banks shall enter details of service imports in IDPMS for their customers only, on the same day of receipt of documents.
  4. AD banks shall ensure that, in case of export advance, outstanding entries for inward remittance shall be closed and reconciled on submission of export documents to the satisfaction of the AD banks.

3.9 Caution listing of exporters in EDPMS for non-realisation of export proceeds in terms of the Act

(i) Where an export amount is outstanding in EDPMS for a period of more than two years from the due date of realization (including extension of the period granted by AD bank, if any), AD banks shall ensure that exporter is flagged as ‘caution listed’ in the EDPMS.

(ii) AD banks shall ensure the following while the exporter is being flagged as ‘Caution listed’:

  1. The exporter is duly informed before caution listing in EDPMS.
  2. Exporter should be given an opportunity of being heard.

(iii) When caution listed exporters submit export documents for negotiation / purchase / discount / collection, etc., AD banks may accept export documents only if the exporter concerned produces evidence of having received advance payment or receiving the payment under an irrevocable letter of credit.

(iv) Once all outstanding export proceeds are realized (including by way of setoff or reduction in realizable value), AD banks shall remove the exporter from the caution list and update the status/remove the flag from EDPMS.

3.10 Export of goods and services against repayment of state credits

For the implementation of the provisions of the Inter banking arrangement, AD banks may adhere to instructions of A.D. (G.P.) Circular No. 4 dated May 19, 1999 and A.P. (DIR Series) Circular No.13 dated September 06, 2002 on Export of goods and services against repayment of state credits granted by erstwhile Soviet Union.

3.11 Import of gold and silver

  1. No advance remittance for the import of gold and silver shall be permitted unless specifically approved by the Reserve Bank of India.
  2. For import of gold and silver through India International Bullion Exchange IFSC Ltd., AD banks may be guided by A.P. (DIR Series) Circular No.04 dated May 25, 2022 and A.P. (DIR Series) Circular No. 07 dated November 10, 2023.

3.12 Trade credit in case of import in specified sectors

AD banks shall ensure that Trade Credit (suppliers’ and buyers’ credit) in respect of import of gold in any form and platinum/palladium/ rhodium/silver/diamonds, shall be subject to Foreign Exchange Management (Borrowing and Lending) Regulations, 2018, as amended from time to time.

3.13 Project Export

  1. AD banks shall monitor the progress of work in such projects till their completion by seeking regular progress reports from the exporters in order to facilitate the corresponding payments.
  2. AD banks shall verify consistency of export contracts with rules/regulations/directions under FEMA.

3.14 Merchanting Trade

  1. AD banks shall allow merchanting trade payments only for goods permitted under the extant Foreign Trade Policy.
  2. AD banks shall ensure the genuineness of a merchanting trade transaction before effecting any payment.
  3. AD banks shall allow payments for a merchanting trade only if all payments are routed through the same AD bank.
  4. AD banks shall not allow payments if the period between the outward remittance and inward remittance of a merchanting trade exceeds six months.
  5. AD banks shall ensure that outward remittances sent are to the overseas seller and inward remittances received are from the overseas buyer and no payments   are made to/received from any other counterparty.
  6. In case inward remittance is received before making outward remittance for a merchanting trade, AD banks shall ensure that the receipts are deposited and held in EEFC (Exchange Earners Foreign Currency) account of the merchanting trader.

3.15 International Trade Settlement in Indian Rupees (INR)

AD banks may be guided by the extant guidelines on the broad framework for cross border trade transactions in INR under Foreign Exchange Management Act, 1999 (FEMA) issued vide A.P. (DIR Series) Circular No.10 dated July 11, 2022, on International Trade Settlement in Indian Rupees (INR).

3.16 Payment transactions for Export and import of goods and services in online mode

AD banks may be guided by the directions on Regulation of Payment Aggregator – Cross Border (PA - Cross Border) dated October 31, 2023, issued by Reserve Bank.

3.17 Reporting

  1. AD banks shall report all foreign trade transactions in the Foreign Exchange Transaction Electronic Reporting System (FETERS) in terms of extant guidelines on FETERS.
  2. AD banks shall report all payment transactions related to export and import of goods and services, including Merchanting trade transactions, in EDPMS/IDPMS.

4. Board approved Policy

4.1 AD banks shall put in place a comprehensive, well-documented policy as approved by their Board of Directors within six months of issuance of this circular for handling payment transactions related to export/import of goods and services and merchanting trade.

4.2 The policy shall ensure that the procedures applied are in a manner conducive to international trade and are not discriminatory. The policy should be comprehensive enough to include all aspects relevant to foreign trade at that time.       

4.3 While laying down their internal policy and processes, AD banks shall ensure that the responsibility for approving transactions is clearly demarcated and the different internal levels at which different types of transactions can be approved are delineated.


Annex-II

A. List of Circulars superseded – Export of Goods and Services

Sl. No.

Circular No.

Subject

Date

1

A.P. (DIR Series) Circular No.12

Foreign Exchange Management Act 1999 – Export of Goods and Services

September 9, 2000

2

A.P. (DIR Series) Circular No.27

Foreign Exchange Management Act, 1999 – Export of goods and services -Forwarder’s Cargo Receipt

March 2, 2001

3

A.P. (DIR Series) Circular No. 30

"Write off" of unrealised export bills – Simplification of procedure

April 4, 2001

4

A.P. (DIR Series) Circular No.4

Counter-Trade Arrangements with Romania

August 27, 2001

5

A.P. (DIR Series) Circular No.20

Export of goods & services – Extension of period of realisation

January 28, 2002

6

A.P. (DIR Series) Circular No.30

Export of Goods for Exhibition / Trade Fairs outside India

March 26, 2002

7

A.P. (DIR Series) Circular No.35

Export of Goods and Services - Facilities to Status Holder Exporters

April 1, 2002

8

A.P. (DIR Series) Circular No.38

Foreign Exchange Management Act, 1999 – Export of goods and services – Reduction in value

April 12, 2002

9

A.P. (DIR Series) Circular No.10

Export of Goods and Services – Facilities to units in Special Economic Zones (SEZs)

August 14, 2002

10

A.P. (DIR Series) Circular No.21

Disposal of duplicate copies of Export Declaration Forms

September 16, 2002

11

A.P. (DIR Series) Circular No.61

"Write-off" of unrealised export bills- Surrender of export incentives

December 14, 2002

12

A.P. (DIR Series) Circular No.91

Export of Goods and Services - Facilities to Units in Special Economic Zones (SEZs)

April 1, 2003

13

A.P. (DIR Series) Circular No. 94

Export of Goods and Services - Export of goods on promotional grounds

April 26, 2003

14

A.P. (DIR Series) Circular No.100

Export of Goods and Services - Exports to Warehouses Abroad

May 2, 2003

15

A.P. (DIR Series) Circular No.105

Supply of goods by Special Economic Zones (SEZs) to Units in Domestic Tariff Area (DTA) against payment in foreign exchange

June 16, 2003

16

A.P. (DIR Series) Circular No.22

Export of Goods and Services - Payment of Claims by ECGC

September 24, 2003

17

A.P. (DIR Series) Circular No.26

Export of Goods and Services - Export of Books on Consignment Basis

October 3, 2003

18

A.P. (DIR Series) Circular No.32

Export of Goods and Services - Project Exports

October 28, 2003

19

A.P. (DIR Series) Circular No.40

Export of Goods and Services – Liberalisation

December 5, 2003

20

A.P. (DIR Series) Circular No. 21

Export of Goods and Services - Liberalisation - GR Approval for export

January 10, 2006

21

A.P. (DIR Series) Circular No. 31

Export of Goods and Services – Extension of period of realization

April 21, 2006

22

A.P. (DIR Series) Circular No. 26

Liberalisations in Project and Service Exports

January 08, 2007

23

A.P. (Dir Series) Circular No. 33

Liberalisation of Export and Import procedures

February 28, 2007

24

A.P. (DIR Series) Circular No.37

Export of Goods and Services Refund of Export Proceeds - Liberalisation

April 05, 2007

25

A.P. (DIR Series) Circular No.71

Data on Project Export Finance

June 8, 2007

26

A.P. (DIR Series) Circular No. 49

Export of Goods and Services - Payments of Claims by Insurance Companies-Write off

June 03, 2008

27

A.P. (DIR Series) Circular No.06

Export of Goods and Services- Direct Dispatch of Shipping Documents Realisation and Repatriation of Export Proceeds – Liberalisation

August 13, 2008

28

A.P. (DIR Series) Circular No.03

Export of Goods and Services - Unrealised export bills – Write-off - Surrender of export incentives

July 22, 2010

29

A.P. (DIR Series) Circular No. 47

“Set-off” of export receivables against import payables- Liberalization of Procedure

November 17, 2011

30

A.P. (DIR Series) Circular No.48

Mid – Sea Trans-shipment of catch by Deep Sea Fishing Vessel

November 21, 2011

31

A. P. (DIR Series) Circular No.65

Foreign Exchange Management Act, 1999 – Export of Goods and Services - Forwarder’s Cargo Receipt

January 12, 2012

32

A.P. (DIR Series) Circular No. 80

Export of Goods and Services- Simplification and Revision of Softex Procedure

February 15, 2012

33

A.P. (DIR Series) Circular No.81

Export of Goods and Services - Receipt of advance payment for export of goods Involving shipment (manufacture and ship) beyond one year

February 21, 2012

34

A. P. (DIR Series) Circular No. 46

Supply of Goods and Services by Special Economic Zones (SEZs) to Units in Domestic Tariff Areas (DTAs) against payment in foreign exchange

October 23, 2012

35

A. P. (DIR Series) Circular No. 47

Export of Goods and Services – Simplification and Revision of Softex Procedure

October 23, 2012

36

A.P. (DIR Series) Circular No. 66

Export of Goods and Services – Simplification and Revision of Softex Procedure at SEZs

January 1, 2013

37

A.P. (DIR Series) Circular No. 88

“Write-off” of unrealized export bills – Export of Goods and Services – Simplification of procedure

March 12, 2013

38

A.P. (DIR Series) Circular No.118

Export of Goods and Services – Project Exports

June 26, 2013

39

A.P. (DIR Series) Circular No.43

Export of Goods and Services- Simplification and Revision of Declaration Form for Exports of Goods/Softwares

September 13, 2013

40

A.P. (DIR Series) Circular No. 51

Export of Goods and Services – Project Exports

September 20, 2013

41

A.P. (DIR Series) Circular No.60

Export Outstanding Statement (XOS) Online Bank wide Submission

October 01, 2013

42

A.P. (DIR Series) Circular No.62

Closing of Old Outstanding Bills : Export - Follow-up - XOS Statements

October 14, 2013

43

A. P. (DIR Series) Circular No.70

Third party payments for export / import transactions

November 8, 2013

44

A.P. (DIR Series) Circular No.100

Third party payments for export / import transactions

February 4, 2014

45

A.P. (DIR Series) Circular No.101

Export of Goods and Services: Export Data Processing and Monitoring System (EDPMS)

February 4, 2014

46

A.P. (DIR Series) Circular No. 109

Export of Goods and Services: Export Data Processing and Monitoring System (EDPMS)

February 28, 2014

47

A.P. (DIR Series) Circular No.132

Export of Goods - Long Term Export Advances

May 21, 2014

48

A.P. (DIR Series) Circular No.11

Export of Goods and Services – Project Exports

July 22, 2014

49

A. P. (DIR Series) Circular No.74

Delay in Utilization of Advance Received for Exports

February 09, 2015

50

A.P. (DIR Series) Circular No.93

Export of Goods and Services - Project Exports

April 1, 2015

51

A.P. (DIR Series) Circular No.1

Re-export of unsold rough diamonds from Special Notified Zone of Customs without Export Declaration Form (EDF) formality

July 02, 2015

52

A.P. (DIR Series) Circular No.5

Export factoring on non-recourse basis

July 16, 2015

53

A.P. (DIR Series) Circular No.27

Software Export – Filing of bulk SOFTEX-further liberalisation

November 05, 2015

54

A.P. (DIR Series) Circular No. 39

Export of Goods and Services – Project Exports

January 14, 2016

55

A.P. (DIR Series) Circular No.53

Grant of EDF Waiver for Export of Goods Free of Cost

March 3, 2016

56

A.P. (DIR Series) Circular No. 68 [(1)/23(R)]

Foreign Exchange Management (Exports of Goods and Services) Regulations, 2015

May 12, 2016

57

A.P. (DIR Series) Circular No. 74

Export Data Processing and Monitoring System (EDPMS) – Additional Modules for caution listing of exporters, reporting of advance remittance for exports and migration of old XOS data

May 26, 2016

58

A.P. (DIR Series) Circular No. 04

Export Data Processing and Monitoring System (EDPMS) Issuance of Electronic Bank Realisation Certificate (eBRC)

September 15, 2017

59

A.P. (DIR Series) Circular No. 10

Re-export of unsold rough diamonds from Special Notified Zone of Customs without Export Declaration Form (EDF) formality

November 22, 2019

60

A.P. (DIR Series) Circular No. 03

Export Data Processing and Monitoring System (EDPMS) Module for ‘Caution/De-caution Listing of Exporters’ - Review

October 09, 2020

61

A.P. (DIR Series) Circular No. 08

External Trade – Facilitation - Export of Goods and Services

December 04, 2020

 

B. List of the circulars superseded – Import of Goods and Services

Sr. No.

AP (DIR Series) Circular No.

Subject

Date of Circular

1

A.P. (DIR Series) Circular No. 9

Foreign Exchange Management Act, 1999

August 24, 2000

2

A.P. (DIR Series) Circular No.15

Evidence of Import

September 9, 2002

3

A.P. (DIR Series) Circular No.49

Foreign Exchange Management Act, 1999 –
Advance Remittances for Imports

November 16, 2002

4

A.P. (DIR Series) Circular No.57

Evidence of Import

November 27, 2002

5

A.P. (DIR Series) Circular No.65

Foreign Exchange Management Act, 1999 –
Advance Remittances for Services to be Rendered

January 6, 2003

6

A.P. (DIR Series) Circular No.106

Import of goods and services into India.

June 19, 2003

7

A.P. (DIR Series) Circular No.4

Merchanting Trade Transactions – Clarifications - Short term credit

July 19, 2003

8

A.P. (DIR Series) Circular No.9

Evidence of Import – Liberalisation

August 18, 2003

9

A.P. (DIR Series) Circular No.15

Advance Remittance for Imports

September 17, 2003

10

A.P. (DIR Series) Circular No. 25

Import of gold against letter of authority issued by Nominated Agency

October 1, 2003

11

A.P. (DIR Series) Circular No.31

Import of Silver/Platinum against
Letter of Authority issued by Nominated Agency

October 24, 2003

12

A.P. (DIR Series) Circular No.49

Advance Remittance for Imports

December 15, 2003

13

A.P. (DIR Series) Circular No.66

Imports into India – Direct Receipt of Import Bills/Documents

February 6, 2004

14

A.P. (DIR Series) Circular No.72

Foreign Exchange Management Act, 1999 - Import of Goods into India – Evidence of Import

February 20, 2004

15

A.P. (DIR Series) Circular No.2

Import of Gold by (i) Export Oriented Units (EOUs), (ii) Units in SEZ/EPZ, and (iii) Nominated Agencies

July 9, 2004

16

A.P. (DIR Series) Circular No.34

Import of Gold on Loan Basis – Tenor of Loan and Opening of Stand-By Letter of Credit

February 18, 2005

17

A.P. (DIR Series) Circular No.1

Import of Goods of Value USD 100,000 and Less -Clarification on Follow up for Evidence of Import

July 12, 2005

18

A.P. (DIR Series) Circular No.34

Advance Remittance for Import of Rough Diamonds

March 2, 2007

19

A.P. (DIR Series) Circular No.63

Import of Equipments by BPO Companies in India for International Call Centre

May 25, 2007

20

A.P. (DIR Series) Circular No.77

Advance Remittance for Import of aircrafts / helicopters / other aviation related purchases

June 29, 2007

21

A.P. (DIR Series) Circular No.18

Direct Receipt of Import Bills / Documents - Liberalisation

November 7, 2007

22

A.P. (DIR Series) Circular No.37

Direct Receipt of Import Bills / Documents for Import of Rough Precious & Semi-Precious Stones

April 16, 2008

23

A.P. (DIR Series) Circular No.03

Advance Remittance for Import of Rough Diamonds

August 4, 2008

24

A.P. (DIR Series) Circular No.08

Advance Remittance for Import of Rough Diamonds

August 21, 2008

25

A.P. (DIR Series) Circular No.09

Foreign Exchange Management Act, 1999- Advance Remittance for Import of Goods - Liberalisation

August 21, 2008

26

A.P. (DIR Series) Circular No.12

Foreign Exchange Management Act, 1999 – Import of Platinum / Palladium / Rhodium / Silver

August 28, 2008

27

A.P. (DIR Series) Circular No.13

Direct Receipt of Import Bills / Documents - Liberalisation

September 1, 2008

28

A.P. (DIR Series) Circular No.15

Foreign Exchange Management Act, 1999 – Advance Remittances for Import of Services

September 8, 2008

29

A.P. (DIR Series) Circular No.10

Foreign Exchange Management Act, 1999 –
Advance Remittance for import of Services

October 5, 2009

30

A.P. (DIR Series) Circular No.21

Advance Remittance for Import of Rough Diamonds

December 29, 2009

31

A.P. (DIR Series) Circular No.56

Advance Remittance for Import of Goods – Liberalisation

April 29, 2011

32

A.P. (DIR Series) Circular No.59

Import of rough, cut and polished diamonds

May 06, 2011

33

A.P. (DIR Series) Circular No.82

Release of Foreign Exchange for Imports – Further Liberalisation

February 21, 2012

34

A.P. (DIR Series) Circular No.83

Import of Gold on Loan Basis - Tenor of Loan and Opening of Stand - By Letter of Credit

February 27, 2012

35

A.P. (DIR Series) Circular No.103

Data on import of Gold – Statements – Modification

April 03, 2012

36

A.P. (DIR Series) Circular No. 34

Foreign Exchange Management Act, 1999-Import of gold in any form including jewellery made of gold/precious metals or / and studded with  diamonds / semi  precious / precious
stones - clarification

September 24, 2012

37

A.P. (DIR Series) Circular No.83

Import of precious and semi precious stones- Clarification

February 20, 2013

38

A.P. (DIR Series) Circular No.103

Import of Gold by Nominated Banks/Agencies

May 13, 2013

39

A.P. (DIR Series) Circular No.107

Import of Gold by Nominated Banks/Agencies

June 4, 2013

40

A.P. (DIR Series) Circular No.122

Import of Gold by Nominated Banks/Agencies

June 27, 2013

41

A.P. (DIR Series) Circular No.15

Import of Gold by Nominated Banks /Agencies/Entities

July 22, 2013

42

A.P. (DIR Series) Circular No. 25

Import of Gold by Nominated Banks /Agencies/Entities

August 14, 2013

43

A.P. (DIR Series) Circular No.71

Advance Remittance for Import of Rough Diamonds

November 8, 2013

44

A.P. (DIR Series) Circular No.73

Import of Gold by Nominated Banks /Agencies/Entities

November 11, 2013

45

A.P. (DIR Series) Circular No.82

Import of Gold by Nominated Banks/Agencies/Entities

December 31, 2013

46

A.P. (DIR Series) Circular No.95

Merchanting Trade Transactions

January 17, 2014

47

A.P. (DIR Series) Circular No.103

Import of Gold / Gold Dore by Nominated Banks /Agencies /Entities - Clarifications

February 14, 2014

48

A.P. (DIR Series) Circular No.115

Merchanting Trade Transactions - Revised guidelines

March 28, 2014

49

A.P. (DIR Series) Circular No.116

Advance Remittance for Import of Rough Diamonds

April 01, 2014

50

A.P. (DIR Series) Circular No.133

Import of Gold by Nominated Banks / Agencies / Entities

May 21, 2014

51

A.P. (DIR Series) Circular No.2

Import of Rough, Cut and Polished Diamonds - credit relaxation

July 07, 2014

52

A.P. (DIR Series) Circular No.30

Data on Import of Gold Statement-
Submission under XBRL

September 15, 2014

53

A.P. (DIR Series) Circular No.42

Import of Gold (under 20: 80 Scheme) by Nominated Banks / Agencies / Entities

November 28, 2014

54

A.P. (DIR Series) Circular No.79

Guidelines on Import of Gold by Nominated Banks / Agencies

February 18, 2015

55

A.P. (DIR Series) Circular No.97

Merchanting Trade to Nepal and Bhutan

April 30, 2015

56

A.P. (DIR Series) Circular No.29

Import of Goods into India – Evidence of Import

November 26, 2015

57

A.P. (DIR Series) Circular No.30

Advance Remittance for Import of aircrafts / helicopters /other aviation related purchases

November 26, 2015

58

A.P. (DIR Series) Circular No.57

Import of Rough, Cut and Polished Diamonds

March 31, 2016

59

A.P. (DIR Series) Circular No.65

Import of goods- Import Data Processing and Monitoring System (IDPMS)

April 28, 2016

60

A.P. (DIR Series) Circular No.05

Import Data Processing and Monitoring System (IDPMS)

October 06, 2016

61

A.P. (DIR Series) Circular No.27

Evidence of Import under Import Data Processing and Monitoring System (IDPMS)

January 12, 2017

62

A.P. (DIR Series) Circular No.20

Merchanting Trade Transactions (MTT) – Revised Guidelines

January 23, 2020


1 EDPMS/IDPMS shall also refer to any other system specified by RBI, for the purpose.

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