Export money must come back in nine months from 1 October
RBI's new export and import regulations came into force on 1 October 2026. A late amendment cut the realisation period back to nine months, and many write-ups still quote fifteen.
· 3 min read · For exporters and manufacturers who ship overseas
If you ship knitwear from Tiruppur, home textiles from Karur or machine parts from Coimbatore, the clock on your overseas payments has just changed. RBI's Export and Import of Goods and Services Regulations, 2026 came into force on 1 October 2026 and replace the 2015 rules. One number matters most, and a lot of articles still have it wrong.
What changed
Export value must now be realised and brought back within nine months — from the date of shipment for goods, and from the date of the invoice for services. If the export is invoiced or settled in rupees, you get twelve months. Goods sent to a warehouse abroad get nine months from the date they are sold out of that warehouse. Project exports follow the payment terms of the contract.
When these rules were first notified in January 2026 the periods were fifteen and eighteen months. An amendment dated 22 September 2026 cut them to nine and twelve, just before the rules started. So anything you read that says fifteen months is out of date.
What got easier
- Where a shipping bill or invoice is up to ₹10 lakh, your bank can close the EDPMS entry on your own declaration that the payment came in, in full or otherwise. You may also give this declaration once a quarter in bulk.
- The same ₹10 lakh limit applies to reducing the export value on your declaration, and to closing import entries in IDPMS.
- Exporters of services file the declaration form within 30 days from the end of the month in which the invoice was raised. One form can cover several buyers in that month.
- Your bank can extend the realisation period if you give reasons and it is satisfied. You do not have to go to RBI for it.
- Your bank cannot levy a charge or penalty on you for a regulatory delay or breach on your side, and its charges must be reasonable for the work it does.
Where the risk sits
If you sell on 180-day credit and the buyer slips, you are close to the line. Worse, if proceeds stay unrealised beyond one year from the due date or the extended date, your further exports may only go out against full advance or an irrevocable letter of credit. That can stop a season. Exporters on the Caution List as on 30 September 2026 continue under the earlier order until they are taken off it.
What to do this week
- Ask your bank for your open EDPMS list. Sort it by shipment date and mark everything older than six months.
- For each old one, decide now: chase the buyer, ask the bank for an extension, or ask for a reduction in value.
- Separate the bills under ₹10 lakh and make the quarterly declaration a routine, not a scramble.
- If you export services or software, set a monthly reminder for the declaration form.
- Ask your bank for its policy and standard operating procedure on these matters. The rules require banks to put the main features on their website.
How we can help
Most exporters know the total outstanding but not the age of each invoice. Kanakku reads your bank statements and matches receipts to invoices, so the open list is always current instead of a month behind. If you want that list shown against shipment dates and days left on the clock, that is a small piece of work on top, and we do that under services. If export follow-up is eating your week, talk to us.
