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of <h1>RBI Circular: Status Holder Exporters Can Dispatch Documents Directly, Extend Receipt Period to 12 Months Per FEMA 1999.</h1> The Reserve Bank of India issued a circular to authorized dealers in foreign exchange, outlining facilities for exporters with a proven track record, certified as 'Status Holder Exporters' under the EXIM Policy. These exporters are permitted to dispatch export documents directly to consignees outside India, provided export proceeds are routed through the authorized dealer and monitored within 21 days. Additionally, the period for realizing and repatriating export proceeds is extended to 12 months from shipment. These changes apply to shipments from April 1, 2002, with amendments to Foreign Exchange Management Regulations forthcoming. The circular is issued under the Foreign Exchange Management Act, 1999.
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