Project Export Approval Filing Deadline Extended to 30 Days
Current · Source: Reserve Bank of India · RBI/2012-13/548 · issued 26 Jun 2013 · ~1 min read
Quick answerRBI has extended the deadline for exporters to submit post-award approval forms (DPX1, PEX-1, TCS-1) for project exports and service contracts from 15 to 30 days after contract signing. This gives banks and exporters more time to comply.
The rule, in the simplest words
Exporters must send the three forms DPX1, PEX-1 and TCS-1 (forms for post‑award approval) to the Approving Authority within 30 days of signing the contract, instead of the earlier 15‑day limit.
The Approving Authority can be the exporter’s AD Bank, Exim Bank or the Working Group, so the forms go to the same place as before, just with more time.
All other rules in the Project and Service Exports Memorandum (PEM) stay the same; only the submission deadline has changed.
Banks need to change their internal checklists, tell exporters about the new 30‑day window, and train staff on the update.
How it plays out — a real example
Rohit, a project‑export officer at State Bank of India in Mumbai, receives a contract on March 5. He informs the exporter that they now have until April 4 to file DPX1, PEX-1 and TCS-1 forms, updates the bank’s system to reflect the 30‑day deadline, and sends a friendly reminder to the exporter’s team.
What changed
Previously, exporters had to submit forms DPX1, PEX-1, and TCS-1 to the Approving Authority (AD Bank, Exim Bank, or Working Group) within 15 days of entering into a contract. Now, the deadline has been doubled to 30 days. All other PEM instructions remain unchanged.
What it means for you
Banks acting as Approving Authorities will have a longer window to receive and process post-award approval applications from exporters. This reduces pressure on both exporters and AD banks to rush documentation, potentially lowering compliance errors. However, banks must update their internal systems and customer advisories to reflect the new 30-day timeline.
What you must do
Update internal checklists and systems to reflect the new 30-day submission deadline for DPX1, PEX-1, and TCS-1 forms.
Communicate the revised timeline to exporter customers and relevant branches handling project export approvals.
Ensure staff are trained on the change and continue to follow all other PEM instructions as before.
Who it affects
Authorised Dealer Category-I Banks, Exporters undertaking project exports and service contracts, Exim Bank and Working Group members
❓ Common questions
What forms are affected by this circular?
The forms DPX1, PEX-1, and TCS-1, which are submitted for post-award approval of project exports and service contracts.
Does this change affect any other PEM instructions?
No. All other instructions in the PEM, as per the earlier circular of October 28, 2003, remain unchanged.
📜 Read the original circular — full text as issued by RBI
RBI/2012-13/548
A.P. (DIR Series) Circular No.118
June 26, 2013
To
All Authorised Dealer Category - I Banks
Madam / Sir,
Export of Goods and Services – Project Exports
Attention of Authorized Dealers is invited to Para B.7 (i) and C.5 (i) of Memorandum of Instructions on Project and Service Exports (PEM), enclosed to A.P.(DIR Series) Circular No.32 dated October 28, 2003 , in terms of which an exporter undertaking Project Exports and Service contracts abroad should submit form DPX1, PEX-1 and TCS-1 to the Approving Authority (AA) i.e. AD Bank/ Exim Bank/ Working Group, within 15 days of entering into contract for grant of post-award approval.
2. On a review, it has been decided to increase the time limit and henceforth the exporter undertaking Project Exports and Service contracts abroad should submit form DPX1, PEX-1 and TCS-1 to the Approving Authority (AA) i. e. AD Bank / Exim Bank / Working Group, within 30 days of entering into contract for grant of post-award approval.
3. All other instructions issued in terms of PEM, notified vide A. P. (DIR Series) Circular No. 32 dated October 28, 2003, shall remain unchanged.
4. Authorized Dealers may bring the contents of this circular to the notice of their exporter constituents and customers concerned.
5. The Directions contained in this circular have been issued under sections 10(4) and 11(1) of the Foreign Exchange Management Act (FEMA), 1999 (42 of 1999) and are without prejudice to permissions / approvals, if any, required under any other law.
Yours faithfully,
(C. D. Srinivasan)
Chief General Manager
Reproduced for reference with acknowledgment — Source: Reserve Bank of India · RBI/2012-13/548 · issued 26 Jun 2013. The plain-English explanation above is BankPulse’s own independent summary.
Communicate the revised timeline to exporter customers and relevant branches handling project export approvals.
💻 IT / Systems
Update internal checklists and systems to reflect the new 30-day submission deadline for DPX1, PEX-1, and TCS-1 forms.
📜 Compliance
Ensure staff are trained on the change and continue to follow all other PEM instructions as before.
Grouped from the action items above — a single circular may involve more than one team.
Worked example & action-note template
Example: if you are an IT/Systems lead at a bank this circular applies to (Authorised Dealer Category-I Banks, Exporters undertaking project exports and service contracts, Exim Bank and Working Group members), your first concrete step on “Project Export Approval Filing Deadline Extended to 30 Days” is: “Update internal checklists and systems to reflect the new 30-day submission deadline for DPX1, PEX-1, and TCS-1 forms.” (RBI issued this 26 Jun 2013).
Circular: RBI/2012-13/548 -- Project Export Approval Filing Deadline Extended to 30 Days
Issued: 26 Jun 2013
Action required: Update internal checklists and systems to reflect the new 30-day submission deadline for DPX1, PEX-1, and TCS-1 forms.
Action required: Communicate the revised timeline to exporter customers and relevant branches handling project export approvals.
Action required: Ensure staff are trained on the change and continue to follow all other PEM instructions as before.
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=8062&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.
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