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of <h1>Regulator extends foreign exchange outlay window for merchanting trade from four to six months; MTT remains nine months under FEMA</h1> Regulatory authority revises merchanting trade transaction timing: the overall MTT completion period remains nine months, but the permissible period for outlay of foreign exchange is extended from four months to six months; commencement and completion dates (based on shipment/export receipt or import payment) remain unchanged. The change is effective immediately and applies to Authorised Dealer Category-I banks, which must inform their constituents. Directions are issued under the Foreign Exchange Management Act, 1999, and do not affect other statutory permissions or approvals.
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