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What happens if the withdrawal is not completed within 9 months after receiving deposit?

If a withdrawal is not completed within 9 months of receiving the deposit, we are required to obtain a confirmation from your beneficiary bank (i.e., the bank where you intend to receive the settlement) stating that they are willing to accept the payment for this export of goods/services after the 9-month period.

This requirement is in accordance with RBI guidelines (Point C.20)

You can refer to the official directive here:

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