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of <h1>Export proceeds realization and settlement mechanisms: mandatory repatriation within 15 months; AD banks must route/report; INR/ACU settlements allowed.</h1> Master Direction consolidates operative provisions on realization/repatriation, settlement mechanisms and AD Category-I bank obligations: export proceeds must be realised/repatriated within fifteen months from date of export (operative effect: exporters and AD banks must ensure repatriation within 15 months); AD Category-I banks must route receipts as per FEMA manner-of-receipt rules and report in EDPMS/eBRC (operative effect: mandatory banking channel processing and reporting); settlement mechanisms clarified to permit ACU accounts, Special Rupee Vostro/Special Rupee Vostro Accounts for INR settlement and Third-party/beneficiary-currency settlements subject to due-diligence and FATF limits (operative effect: enables INR and alternative-currency settlements under specified safeguards); advance receipts governed by tenor, interest caps and utilization/reporting rules including long-term advances up to 10 years (operative effect: banks may accept long-tenor advances subject to contract, interest and monitoring). Authority: RBI.
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