Reserve Bank of India (RBI) vide RBI//2012-13/548 A.P. (DIR Series) Circular No.118 dated June 26, 2013 has increased the time limit in terms of which an exporter undertaking Project Exports and Service contracts abroad will submit form DPX1, PEX-1 and TCS-1 to the Approving Authority (AA). The existing guidelines required exporters to submit the forms within 15 days of entering into contract for grant of post-award approval. With the issue of this present circular the time limit has been extended and the exporters will be now be required to submit the forms within 30 days of entering into contract for grant of post-award approval.