RBI Notifies New Export and Import Rules Under FEMA to Ease Trade Compliance; Effective October 2026:

RBI Notifies New Export and Import Rules Under FEMA to Ease Trade Compliance; Effective October 2026 The Reserve Bank of India (RBI) has released an official circular, informing that it has completed the thorough review of all the existing rules, regulations, and directions related to the export and import of goods and services under the Foreign Exchange Management Act (FEMA), 1999. This review was conducted after consulting various stakeholders. In conclusion to the consultation, it has issued a new regulation called the Foreign Exchange Management (Export and Import of Goods and Services) Regulations, 2026. These regulations are aimed at facilitating doing business, especially for small exporters and importers, and at giving authorised dealers more powers to offer faster and more efficient services to their customers.

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As per the notification, the regulation is scheduled to take effect on October 01, 2026, and the directions given in the present circular will also take effect on the said date. Under these regulations, authorised dealers must strictly follow the provisions of FEMA, 1999, along with all related rules, regulations, and directions issued under FEMA. They must also adhere to the current Foreign Trade Policy issued by the Government of India while handling all export and import transactions, including merchanting trade. The authorised dealers are required to send all their references to the Reserve Bank of India (RBI) through the PRAVAAH portal and, if they suspect any doubtful transactions, immediately inform the Directorate of Enforcement (DoE).

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Once these new directions come into force, the existing Master Direction on Export of Goods and Services, Master Direction on Import of Goods and Services, and the circulars mentioned in the Annexe will no longer be considered valid and will stand cancelled. These directions under the current circular have been issued under Sections 10(4) and 11(1) of FEMA, 1999. However, this circular does not remove the requirement of obtaining any other approvals or permissions that may be needed under other applicable laws. These Refer to the official circular for complete information.