Closing of Old Outstanding Bills: Export-Follow-up –XOS Statements - FEMA - 62

RBI/2013-14/325 A.P. (DIR Series) Circular No. 62 October 14, 2013 To All Category - I Authorised Dealer Banks Madam / Sir, Closing of Old Outstanding Bills: Export-Follow-up XOS Statements Attention of Authorized Dealer Category I (AD Category I) banks is invited to A. P. (DIR Series) Circular No. 12 dated September 9, 2000 in terms of which AD Category I banks are required to furnish to the Regional Office concerned of the Reserve Bank, a consolidated statement in Form XOS giving details of all export bills outstanding beyond six months from the date of export on a half yearly basis as at the end of June and December every year. 2. On a review, it has been decided that an old export bill may be closed by AD banks as a one time measure, provided that the case is not subject matter of any pending civil suit /criminal suit ; the exporter has not come to the adverse notice of the Directorate of Enforcement (DoE) / Central Bureau of Investigation (CBI)/Directorate of Revenue Intelligence (DRI) /any such other law enforcement agency; has no externalisation problems with the export receipient countries and the export bill falls under following categories: With ceiling of USD 1, 00,000 and outstanding beyond 15 years as on December 31,2012 With ceiling of USD 50,000 and outstanding for more than 5 years as on December 31, 2012, where customers not traceable subject to proof of non traceability from competent authority and under bank s internal boards approved policy. 3. Report of closed cases should be submitted to concerned Regional Offices of Reserve Bank of India by AD banks in an excel sheet as per the format given in Annex. 4. After closing of cases, there will be no further follow up by ADs andthese outstanding bills will not be reported in future Export Outstanding Statements (XOS). 5. The directions contained in this circular have been issued under sections 10(4) and Section 11(1) of the Foreign Exchange Management Act, 1999 (42 of 1999) and is without prejudice to permissions / approvals, if any, required under any other law. Yours faithfully, (C.D Srinivasan) Chief General Manager Annex Format for submitting of Export Outstanding data *M-Mandatory, O-Optional S.No. Field Type Width M/O* Remarks 1 AD code of the bank Varchar 7 M 2 Imp/Exp code No. Varchar 10 M 3 Name of the Exporter Varchar 40 M 4 Exporter s address Line 1 Varchar 50 O 5 Exporter s address Line 2 Varchar 50 O 6 City Varchar 30 O 7 Pin code Varchar 6 O 8 Export under GR/SDF Varchar 6 M Values: GR/SDF/SOFTEX 9 Export bill no Varchar 20 M 10 Export bill date Date 10 M 11 Port code Varchar 15 M 12 Shipping bill no Varchar 10 M 13 Shipping bill date Date 10 M 14 GR/PP/SDF no. Varchar 15 M 15 Date of Export Date 10 M 16 Due date of realization Date 10 M 17 Extension Granted Varchar 1 M 18 Extn. granting authority Varchar 4 O Is extension granted: Yes/No 19 Extn granted up to Date 10 O Mandatory, if extension granted is yes 20 Country of Export Varchar 2 M 21 Commodity Varchar 3 M 22 Invoice Currency Varchar 3 M 23 Invoice Amount (FC) Numeric 15 M 24 Invoice Amount (INR) Numeric 15 M 25 Realized currency Varchar 3 M 26 Realized Amount (INR) Numeric 15 M 27 Out-standing Amt. (INR) Numeric 15 M 28 Overseas Buyer Name Varchar 40 M 29 Overseas Buyer address1 Varchar 35 O 30 Overseas Buyer address2 Varchar 35 O 31 Overseas Buyer Country Varchar 20 O 32 Overseas Buyer Pin code Varchar 10 O 33 Bill Realized? (Y/N) Varchar 1 O 34 Realization date Date 10 O 35 Remark if any Varchar 35 O