The Reserve Bank of India (RBI) eases foreign exchange (forex) reporting and compliance norms for cross-border services exports and imports under amendments effective from October 1, 2026. The changes apply to how exporters and importers provide information to authorised dealer banks, including when an Export Declaration Form (EDF) is considered submitted.
For resident individual exporters, the RBI provides that the EDF is deemed submitted once the individual furnishes required information to the authorised dealer bank to credit export proceeds to their account. For service imports, the amendments ease reporting through the Import Data Processing and Monitoring System (IDPMS), with requirements for authorised dealer banks hinging on conditions related to residency and invoice or contract value. The rules are described as easing compliance particularly for smaller players.
Across outlets, the core point is consistent: the RBI revises the Foreign Exchange Management (Export and Import of Goods and Services) framework for services reporting. Coverage differs mainly in emphasis, with some outlets highlighting the resident-individual EDF treatment and others focusing on a revised ₹10 lakh threshold for certain inward payments and IDPMS reporting conditions for non-resident individuals.
