Corporate Amicus, September 2026

Click the 'View PDF' option above to read the full Amicus.

Article

RBI Trade Regulations 2026: Key reforms in payment timelines, realisation & reporting

By Asish Philip, Pratyush Jain and Shreyasi Chakraborty

The Reserve Bank of India in its endeavour to promote ease of doing business, notified the Foreign Exchange Management (Export and Import of Goods and Services) Regulations, 2026 followed by Directions on Export and Import of Goods and Services, in January 2026. The changes are effective from 1 October 2026. This article in this issue of Corporate Amicus highlights the key changes introduced under these amendments in relation to export-import payment timelines, reporting requirements, closure of low value transaction entries and outlines practical considerations, including the key action points, for businesses navigating the revised regulatory landscape.

Notifications and Circulars

·         SEBI extends timeline for accredited investor mandate for angel funds

·         SEBI eases regulatory compliance for FPIs investing only in government securities

·         RBI withdraws seven inoperative FEMA Circulars as part of regulatory rationalization

·         IRDAI delegates powers for imposition of penalties and issuance of directions

·         RBI revises cut-off date for exclusion of certain FCNR(B) / NRE deposit-backed advances from Adjusted Net Bank Credit

·         RBI extends alternative certification facility under KYC Norms to Foreign Portfolio Investors

·         RBI issues new framework for minimum capital requirements for market risk for commercial banks

·         RBI prescribes valuation framework for InvIT and REIT Investments by commercial banks

·         RBI shortens export realisation timelines and delegates legacy FEMA approvals to authorised dealers

·         IRDAI repeals Guidelines on Dividend Repatriation by foreign-majority insurance intermediaries

Ratio Decidendi

·         Successful liquidation-auction bidder who defaults on the balance sale consideration cannot claim refund of the EMD or amounts deposited; forfeiture validly follows auction terms – Supreme Court

·         Arbitration clause in accepted invoices binds the parties despite the absence of a separate signature at the Section 11 stage – Delhi High Court

·         Arbitral award rendered by a unilaterally appointed tribunal without express post-dispute waiver under Section 12(5), is liable to be set aside – Delhi High Court

·         Fraudulent or collusive CIRP admission may be recalled, but the insolvency process can continue if it has acquired an in-rem character – Supreme Court

·         Purchaser cannot acquire valid title from a court-invalidated auction, regardless of registration, possession, or subsequent construction – Telangana High Court

News Nuggets

·         Unacademy-upGrad deal completes at USD 200 Million, a steep climbdown from peak valuation

·         Solar Industries signs USD 1.355 Billion deal to acquire South Africa's Omnia Holdings

·         CCI clears USD 1.65 Billion Mittal-Poonawalla acquisition of Rajasthan Royals and two overseas franchises

·         CCI approves Fairfax Group's acquisition of stake in IIFL Capital Services

·         CCI clears L'Oréal India's 100% acquisition of Onesto Labs (Innovist)

·         SEBI settles Adani Group’s minimum public shareholding case; clears Vinod Adani, Gautam Adani and group firms pay INR 1.48 crore