RBI eases export-import reporting for individuals, sets Rs 10 lakh threshold

The Reserve Bank of India (RBI) has introduced simplified reporting requirements for resident individuals engaging in export and import of goods and services. The amendments, effective from October 1, 2026, set a Rs 10 lakh threshold for certain service-related transactions. For resident individuals, the threshold is not specified.

The changes also affect the reporting of service imports, which will now only be required when the importer is not a resident individual and the invoice or contract value exceeds the Rs 10 lakh threshold, within five working days of receiving the relevant details.

Brief written by urgent.news from The Indian Express's own syndicated text. Machine-written — may contain errors; check the original before relying on it.