RBI/2011-12/241
A.P. (DIR Series) Circular No.40,

Dated- November 01, 2011

Export of Goods and Software – Realisation and Repatriation of export proceeds – Liberalisation

Attention of Authorised Dealer Category-I (AD Category-I) banks is invited to A.P. (DIR Series) Circular No. 47 dated March 31, 2011 enhancing the period of realization and repatriation to India of the amount representing the full export value of goods or software exported, from six months to twelve months from the date of export. This relaxation was available up to September 30, 2011.

2. The issue has since been reviewed and it has been decided, in consultation with the Government of India, to extend the above relaxation w.e.f. October 01, 2011 till September 30, 2012.

3. The provisions in regard to period of realization and repatriation to India of the full export value of goods or software exported by a unit situated in a Special Economic Zone (SEZ) as well as exports made to warehouses established outside India remain unchanged.

4. AD Category-I banks may bring the contents of this circular to the notice of their constituents and customers concerned.

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

Yours faithfully,

(Rashmi Fauzdar)
Chief General Manager

————————————————————————–

Related Press Release is as Follows:-

Date : 01 Nov 2011

Export of Goods and Software – Realisation and Repatriation of export proceeds – Liberalisation

It has been decided, in consultation with the Government of India, to further extend by one year, i.e. from October 01, 2011 till September 30, 2012, the relaxation with respect to the period of realization and repatriation to India, of the amount representing the full value of goods or software exported, from six months to twelve months from the date of export, which was valid up to September 30, 2011.

The provisions in regard to period of realization and repatriation to India of the full export value of goods or software exported by a unit situated in a Special Economic Zone (SEZ) as well as exports made to warehouses established outside India remain unchanged.

The instructions have been issued vide A. P. (DIR Series) Circular No.40 dated November 01, 2011.

Ajit Prasad

Assistant General Manager

Press Release : 2011-2012/677

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  1. Relaxation says:

    o Auto title loans are short-term loans that are secured using your auto title, that is, by using your car or any other vehicle you own as collateral. Getting an auto title loan does not require a credit check. The lender will give you the money and at the end of the auto title loan period, you pay it back with interest. During the loan period, you can continue to use your vehicle; however, the lender will keep a spare set of the keys as well. If you default on your loan payment, the lender repossesses your vehicle.

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