Auto-Caution Listing Process – Extension of date -
is in continuation to our previous circulars on the subject
mentioned above. In order to redress the grievances of genuine
exporters, Reserve Bank has reviewed the position and considering
the large pendency of export bills beyond 2 years, various reasons
cited by exporters/AD Banks and involvement of multiple agencies,
merger of banks, etc., it is felt that granting a further extension
of 3 months i.e. up to 31st March
2020 is to be given. Accordingly,
till 31st March 2020, the provisions of
caution listing will not be effective.
the extant guidelines issued by RBI to the AD banks it is
you are aware, on June 25, 2019, Reserve Bank had extended the
timeline for enforcing the caution listing provisions till 31st
December 2019. It has been decided to extend the exemption for the
exporters from enforcement of the provisions of caution listing, for
a further period of three months till 31st March
Banks may note that this dispensation is without prejudice to the
action, if any, taken on the ADs for non-compliance of the
directions issued by Reserve Bank of India under FEMA 1999. They are
advised to further intensify their efforts to reduce/ close the
outstanding shipping bills effectively utilising this 3 month
the view of the above, we urge all the affected members to kindly
pursue their AD Banks to update all the old entries in the EDPMS by
31st March 2020.
we are getting extension from time to time, it can’t be an
indefinite one. Members are, therefore, requested to take remedial
measures at their end so that no shipment remains outstanding beyond
the time prescribed by the RBI.
above is for your information please.