RBI expands reporting obligations to include small service exporters under new FEMA rules
Effective Oct. 1, the RBI’s updated Master Direction brings small service exporters into the FEMA reporting framework.
On Oct. 1, the Reserve Bank of India issued a revised Master Direction that consolidates various filing requirements under the Foreign Exchange Management (Export and Import of Goods and Services) Regulations, 2026. The change extends reporting duties to small firms exporting services, which were previously exempt. The amendment follows a column that addressed six common questions about the new regulations and has prompted additional queries from the trade community.
Why it matters
Small service exporters must now file foreign exchange reports, increasing compliance workload and regulatory oversight.
In this story
FEMA regulationsservice exportersreporting obligationsMaster DirectionRBIforeign exchangeSME Chatroom
