Individuals exempt from reporting under new FEMA trade rules, RBI says

Individuals undertaking personal transactions will not have to comply with new foreign exchange trade regulations imposed. The Reserve Bank of India aims to ease compliance burdens related to reporting obligations for personal contracts. RBI Governor Sanjay Malhotra confirmed that routine payments for services and subscriptions are exempt from reporting. Additionally, smaller export transactions of up to ₹10 lakh may rely on self-declarations.