The Reserve Bank of India has issued the Foreign Exchange Management (Export of Goods and Services) (Second Amendment) Regulations, 2025, introducing key revisions to timelines governing export-related payments and documentation. Exercising its powers under FEMA, 1999, the RBI has amended Regulations 9 and 15 of the Principal Regulations of 2015. The amendment extends the period for realisation and repatriation of export proceeds by replacing the earlier limit of nine months with fifteen months under Regulation 9. Similarly, Regulation 15 has been revised to extend the time period for submission of various export-related documents from one year to three years across multiple sub-regulations. These changes, effective from the date of publication in the Official Gazette, provide exporters with a longer compliance window, reflecting a more flexible and facilitative regulatory framework. The notification also lists prior amendments to underscore the evolving regulatory approach to export management under FEMA.
Foreign Exchange Management (Export of Goods and Services) (Second Amendment) Regulations, 2025
RESERVE BANK OF INDIA
(Foreign Exchange Department)
(CENTRAL OFFICE)
NOTIFICATION
Mumbai, the 13th November, 2025
Foreign Exchange Management (Export of Goods and Services) (Second Amendment) Regulations, 2025
F. No. FEMA 23(R)/(7)/2025-RB.—In exercise of the powers conferred by Section 7, Section 8 and subsection (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:
1. Short Title and Commencement:-
(i) These regulations may be called the Foreign Exchange Management (Export of Goods and Services) (Second Amendment) Regulations, 2025
(ii) They shall come into force from the date of their publication in the Official Gazette.
2. Amendment to Regulation 9:-
In the principal regulations, in regulation 9 –
(i) in sub-regulation (1) for the words ‘nine months’, the words ‘fifteen months’ shall be substituted.
(ii) in sub-regulation (2), in clause (a) for the words ‘nine months’, the words ‘fifteen months’ shall be substituted.
3. Amendment to Regulation 15:-
In the principal regulations, in regulation 15 –
(i) in sub-regulation (1), in clause (i) for the words ‘one year’, the words ‘three years’ shall be substituted.
(ii) in proviso to sub-regulation (1), for the words ‘one year’, the words ‘three years’ shall be substituted.
(iii) in sub-regulation (2), for the words ‘one year’, the words ‘three years’ shall be substituted.
ROHIT P. DAS, Regional Director
[ADVT.-III/4/Exty./471/2025-26]
Foot Note: 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. 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
