The big shift? Exporters now have just 9 months (down from 15) to bring money back home. For rupee-denominated exports, it’s 12 months instead of 18. Why does this matter? Because delays can now block future shipments; and banks will decide if extensions are allowed. Also new: service exporters must file formal declarations within a month of billing. No more invisible transactions. On the import side, companies now get flexibility; payments can follow the contract’s timeline, not a rigid rule. Plus, small exports under ₹10 lakh? Simplified paperwork. This isn’t just regulation; it’s a signal: RBI is tuning rules to real business, not bureaucracy. If you’re in trade, these changes could affect your cash flow, compliance, or bank relationship. Time to read the fine print.