In view of disruptions caused due to COVID-19 pandemic, the Reserve Bank of India (RBI) has announced that the time period for realization and repatriation of export proceeds for exports made up to or on 31st July, 2020, has been extended to 15 months from the date of export.
Presently value of the goods or software exports made by the exporters is required to be realized fully and repatriated to the country within a period of 9 months from the date of exports. This extension in time period by 6 months will enable the exporters to realize their receipts, especially from COVID-19 affected countries within the extended period and also provide greater flexibility to the exporters to negotiate future export contracts with buyers abroad.
Source: RBI Press Release- 2019-2020/2167 released on 1st April 2020
