Current · Source: Reserve Bank of India · RBI/2012-13/260 · issued 23 Oct 2012 · ~2 min read
Quick answerRBI has rolled out the simplified Softex procedure nationwide, allowing large software exporters with annual turnover of at least Rs.1000 crore or 600+ forms per year to submit a statement in excel format instead of individual certification.
The rule, in the simplest words
Big software exporters (those who sell at least Rs.1000 crore worth of software each year OR send at least 600 export forms every year) can now send a single Excel file instead of getting each form checked one by one.
This simpler way of reporting exports (called Softex) used to work only in 5 cities (Bangalore, Hyderabad, Chennai, Pune, Mumbai), but now it works in all Software Technology Parks of India (STPIs) across the country.
Banks (called Authorised Dealers) must update their own rules to accept this Excel file from eligible exporters and check that the exporter really meets the size limit (turnover or number of forms).
Exporters must keep a copy of the Excel file for their records, just like they keep other important papers for foreign exchange rules (FEMA).
How it plays out — a real example
A forex & trade-finance officer in Indore, Priya, handles export documents for a large software company that sends over 700 Softex forms each year. Before this rule, she had to check and stamp each form one by one, which took hours. Now, the company sends her one Excel file with all the export details, and she can quickly verify the total and approve it, saving time for both her and the exporter.
What changed
The simplified Softex procedure, previously limited to five STPI centres (Bangalore, Hyderabad, Chennai, Pune, Mumbai), is now extended to all STPIs across India with immediate effect. Eligible exporters can now submit a consolidated excel statement instead of getting each SOFTEX form certified individually.
What it means for you
Banks handling software export documentation will see reduced paperwork for large exporters, as they can now accept bulk excel statements instead of processing hundreds of individual SOFTEX forms. This streamlines compliance for high-volume exporters and reduces certification bottlenecks at STPI offices. ADs must update their internal procedures to accept the new format and verify eligibility criteria.
What you must do
Update internal guidelines to accept excel-based SOFTEX statements from eligible exporters (turnover >= Rs.1000 crore or >= 600 forms annually on all-India basis).
Inform your exporter clients about the revised procedure and the eligibility thresholds.
Coordinate with local STPI offices to ensure smooth transition to the new format.
Retain copies of the excel statements as per FEMA record-keeping requirements.
Who it affects
Authorised Dealers handling software export remittances, Large software exporters with high SOFTEX volumes, STPI officials now required to certify bulk statements
❓ Common questions
Which exporters are eligible for the simplified Softex procedure?
Exporters with an annual turnover of at least Rs.1000 crore or those who file at least 600 SOFTEX forms annually on an all-India basis can submit a statement in excel format instead of individual forms.
When does this revised procedure take effect?
The circular states it is effective immediately from the date of issue, October 23, 2012, for all STPIs in India.
What should ADs do if an exporter claims eligibility but doesn't meet the criteria?
ADs must verify the exporter's annual turnover and SOFTEX filing volume. If the exporter does not meet the thresholds, they must continue with the standard individual SOFTEX certification process.
📜 Read the original circular — full text as issued by RBI
RBI/2012-13/260
A. P. (DIR Series) Circular No. 47
October 23, 2012
To
All Authorised Dealers in Foreign Exchange
Madam / Sir,
Export of Goods and Services –
Simplification and Revision of Softex Procedure
Attention of the Authorised Dealers is invited to Regulation 6 of the Notification No. FEMA 23/2000-RB dated May 3, 2000 viz. Foreign Exchange Management (Export of Goods and Services) Regulations, 2000, as amended by the Notification No.FEMA.36/2001-RB dated February 27, 2001 , in terms of which designated officials of the Ministry of Information Technology, Government of India at the Software Technology Parks of India (STPIs) or at Free Trade Zones (FTZs) or Export Processing Zones (EPZs) or Special Economic Zones (SEZs), had been authorized to certify exports declared through SOFTEX Forms.
2. Considering the spurt in the volume of software exports from India in recent times, the complexity of work contracts involved, the voluminous nature of contract agreements and the duration involved in execution of each contract as well as the time-consuming process involved in the certification of SOFTEX forms, simplified and revised Softex procedure was introduced vide A.P. (DIR Series) Circular No.80 dated February 15, 2012 . Initially the revised procedure was applicable in STPI at Bangalore, Hyderabad, Chennai, Pune and Mumbai with effect from April 01, 2012.
3. Since the revised procedure is running successfully at the 5 designated centres, it has been decided to implement the revised procedure in all the STPIs in India with immediate effect.
4. As per the revised procedure, a software exporter, whose annual turnover is at least Rs.1000 crore or who files at least 600 SOFTEX forms annually on all India basis, will be eligible to submit a statement in excel format as detailed in our A.P. (DIR Series) Circular No.80 dated February 15, 2012.
5. Authorised Dealers may bring the contents of this circular to the notice of their constituents concerned.
6. The directions contained in this circular have been issued under Section 10(4) and Section 11(1) of the Foreign Exchange Management Act, 1999 (42 of 1999) and are without prejudice to permissions / approvals, if any, required under any other law.
Yours faithfully,
(Rashmi Fauzdar)
Chief General Manager
Reproduced for reference with acknowledgment — Source: Reserve Bank of India · RBI/2012-13/260 · issued 23 Oct 2012. The plain-English explanation above is BankPulse’s own independent summary.
Retain copies of the excel statements as per FEMA record-keeping requirements.
📜 Compliance
Update internal guidelines to accept excel-based SOFTEX statements from eligible exporters (turnover >= Rs.1000 crore or >= 600 forms annually on all-India basis).
Inform your exporter clients about the revised procedure and the eligibility thresholds.
Coordinate with local STPI offices to ensure smooth transition to the new format.
Grouped from the action items above — a single circular may involve more than one team.
Worked example & action-note template
Example: if you are a Compliance officer at a bank this circular applies to (Authorised Dealers handling software export remittances, Large software exporters with high SOFTEX volumes, STPI officials now required to certify bulk statements), your first concrete step on “Simplified Softex Procedure Extended to All STPIs” is: “Update internal guidelines to accept excel-based SOFTEX statements from eligible exporters (turnover >= Rs.1000 crore or >= 600 forms annually on all-India basis).” (RBI issued this 23 Oct 2012).
Circular: RBI/2012-13/260 -- Simplified Softex Procedure Extended to All STPIs
Issued: 23 Oct 2012
Action required: Update internal guidelines to accept excel-based SOFTEX statements from eligible exporters (turnover >= Rs.1000 crore or >= 600 forms annually on all-India basis).
Action required: Inform your exporter clients about the revised procedure and the eligibility thresholds.
Action required: Coordinate with local STPI offices to ensure smooth transition to the new format.
Action required: Retain copies of the excel statements as per FEMA record-keeping requirements.
Owner: ____________ Target date: ____________
Board/committee approval needed? Y / N
Evidence filed in compliance register on: ____________
Built only from this circular’s own published fields — not legal advice; always confirm against the official RBI source.
💬 Banker Discussion
Discuss this circular with fellow bankers — reply, upvote what helps, report what doesn’t belong. Be professional; no client data. Views are the commenter’s own, not BankPulse’s.
BankPulse Compliance Evidence Pack — generated 03 Aug 2026 · status cross-checked against RBI’s official withdrawal register (refreshed weekly). Official RBI source: https://www.rbi.org.in/Scripts/NotificationUser.aspx?Id=7639&Mode=0 — Plain-English summary by BankPulse (bankpulse.ai), reviewed by our expert reviewer, CA Amit Jain. Independent platform, not affiliated with the Reserve Bank of India; is our own plain-English paraphrase, not RBI’s original wording.
Help us keep this accurate
Found an inaccuracy or have an improvement? Tell us. Every report is reviewed by our team before any change is made — nothing goes live unverified.
Public beta — plain-English informational summaries. Always verify against the official RBI source (circular number cited on every page) before making compliance, credit, treasury, audit, or operational decisions. · Join our WhatsApp channel ↗
BANKPULSE · FREE DAILY BRIEF
Get RBI updates for your role
Every important RBI update, decoded in plain English — for your career, exams & financial awareness.
We collect only your email, name and role, used solely to send your brief — never sold or shared. Withdraw anytime via the unsubscribe link in any email. Independent platform, not affiliated with the RBI. Information, not legal advice.
REPORT AN ERROR · BETA
Spotted an error? Earn 500 BankPulse Credits
Help us stay accurate. If your correction is verified true and approved by our founder, you earn 500 BankPulse Credits — redeemable when the platform monetises.
Reviewed by a human before any credit is awarded. We never change the site from crowd input without verification.
WANT A NEW FEATURE · BETA
What would make BankPulse more useful for you?
Tell us what to build next — a tool, a data view, a role page, anything. We read every suggestion.
Thank you — your ideas directly shape what we build.