New FEMA regulations for exports and imports to take effect from Oct 1

Mumbai, Jan 16, 2026

RBI notifies new FEMA export-import regulations effective October 1, 2026, tightening reporting timelines for banks and mandating stricter monitoring via EDPMS and IDPMS

The Reserve Bank of India (RBI) on Friday notified the Foreign Exchange Management (Export and Import of Goods and Services) Regulations, 2026, along with detailed directions, which will come into effect from October 1, 2026.

Under the regulations, authorised dealer (AD) banks are required to enter export declaration form (EDF) details for goods exported through non-EDI ports into the Export Data Processing and Monitoring System (EDPMS) within five working days of receipt.

“An authorised dealer shall enter details of EDF of services (of its customers) in EDPMS within five working days of receipt of EDF from an exporter,” the notification said.

For exports of services, including software, banks must upload exporter-submitted EDF details in EDPMS within the same timeframe. On the import side, AD banks must record import document details from non-EDI ports in the Import Data Processing and Monitoring System (IDPMS) within five working days, while details of service imports declared by importers must also be entered within this period.

The RBI has also mandated that all inward and outward remittances linked to exports, imports and merchanting trade transactions be reported in EDPMS and/or IDPMS. AD banks are required to continuously monitor these systems to identify outstanding entries and follow up with exporters, importers and merchanting trade participants to obtain documents and ensure timely closure or mark-off of transactions.

“An authorised dealer shall monitor all transactions in EDPMS and IDPMS for closure of outstanding entries and follow up with an exporter, an importer and persons undertaking merchanting trade transactions (MTT) for submission of documents for the same,” the notification said.

[The Business Standard]