RBI Issues New Regulations for Export and Import of Goods and Services: Know Key Guidelines for Authorised Dealers

In an effort to simplify the rules for the export and import of goods and services, the Reserve Bank of India (RBI) has introduced the Foreign Exchange Management (Export and Import of Goods and Services) Regulations, 2026. These rules are made after consulting stakeholders and following the directions under FEMA, 1999.

These new rules, effective from 6th October 2026, aim to make business easier, especially for small exporters and importers. All instructions and directions issued under these regulations will also be effective from the same date.

These guidelines are issued under Sections 10(4) and Section 11(1) of FEMA, 1999, and are without the permissions or approvals required under the law.

Key Points of the New Regulations

• Aim: The new regulation focuses on promoting the authorised dealers to give faster and more efficient services to their customers.
• Directions for Authorised Dealers: The RBI has directed the authorised dealers to follow the Foreign Exchange Management Act, 1999 (FEMA), and the Foreign Trade Policy while managing the export and import transactions, including merchanting trade transactions.
• Use of the PRAVAAH Portal: The authorised dealers are required to send all the references to the RBI through the PRAVAAH portal.
• Reporting Suspicious Transactions: Authorised dealers must inform the Directorate of Enforcement (DoE) about any suspicious or doubtful transactions.
• Replacement of Earlier Guidelines: The new regulations are now replacing the earlier instructions, such as the Master Direction – Export of Goods and Services and Master Direction – Import of Goods and Services, along with related circulars.

The RBI has also directed the authorised dealers to inform their customers about the new regulations to ensure smooth compliance.