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Central banks in Nepal and India implement new foreign exchange and export rules
Central banks in Nepal and India have implemented significant changes to their foreign exchange and export regulations.
In Nepal, the Nepal Rastra Bank (NRB) has amended its Integrated Circular-2082 to ease foreign exchange policies. Key changes include doubling the annual limit for Nepalese citizens seeking medical treatment abroad from USD 15,000 to USD 30,000. Additionally, the cap for commercial banks to independently approve satellite service rental payments for local telecom providers has been raised from USD 100,000 to USD 500,000 per year. The NRB also increased the advance payment threshold for service imports and aviation engine repairs.
In India, the Reserve Bank of India (RBI) introduced new Foreign Exchange Management Regulations effective October 1, 2026. Under these rules, exporters of both goods and services are now required to submit an Export Declaration Form (EDF). This new framework specifically impacts service providers, including IT firms, freelancers, consultants, and BPO providers, who must now formally declare the value of services exported to overseas clients.
Entities
Civil Aviation Authority of Nepal · Nepal Rastra Bank · Reserve Bank of India
Claims
What the coverage asserts, and how many sources carry each claim.
- [○ 1 SOURCE] The annual foreign exchange limit for Nepalese citizens seeking medical treatment abroad has increased from USD 15,000 to USD 30,000. ictframe.com
- [○ 1 SOURCE] Commercial banks can independently approve up to USD 500,000 annually for local telecom providers leasing satellite services from foreign vendors. ictframe.com
- [● 2 SOURCES] The Reserve Bank of India mandated that exporters of goods and services must furnish an Export Declaration Form (EDF) starting October 1, 2026. www.taxscan.in · thecsrjournal.in
- [● 2 SOURCES] New RBI regulations encompass service exports, requiring service providers to file an EDF. www.taxscan.in · thecsrjournal.in
- [○ 1 SOURCE] NRB has introduced relaxations in its foreign exchange policy through amendments to the Integrated Circular-2082. ictframe.com