RBI Update - Export Data Processing and Monitoring System (EDPMS) & Import Data Processing and Monitoring System (IDPMS) – reconciliation of export /import entries – Review of Guidelines

The RBI has eased the process for reconciliation and closure of small-value export and import entries in EDPMS and IDPMS. For bills up to ₹10 lakh per entry, Authorised Dealer (AD) Category-I banks can close entries based on a simple declaration from exporters (confirming realisation of export proceeds) or importers (confirming payment). Reductions in invoice value will also be accepted on such declarations, which may be submitted quarterly in a consolidated manner for bulk closures. AD banks must also review and rationalise charges for handling these small-value transactions and cannot levy penal charges for delays.

The above instructions shall come into force with immediate effect.

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