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RBI-Closing of Old Outstanding Bills : Export-Follow-upXOS Statements
October, 15th 2013

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:

  1. With ceiling of USD 1, 00,000 and outstanding beyond 15 years as on December 31,2012

  2. 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

 

 
 
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