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RBI has increased the maximum permissible period of pre-shipment and post-shipment export credit sanctioned by banks from the existing one year to 15 months, for disbursements made up to 31 July 2020. To provide better flexibility to importers in managing operating cycles in a COVID-19 environment, RBI has extended the period for completion of remittances against normal imports (except in cases where amounts are withheld towards guarantee of performance) from 6 months to 12 months from the date of shipment for imports made on or before 31 July 2020

https://rbidocs.rbi.org.in/rdocs/PressRelease/PDFs/PR239281035C0C72F5477589233CDB3AFDE29E.PDF

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