Circular No.A.P. (DIR Series) Circular No.12, Dated: 01.10.2025
1. Introduction
The Reserve Bank of India (RBI) has announced a set of measures to simplify the reconciliation and closure of entries in the Export Data Processing and Monitoring System (EDPMS) and the Import Data Processing and Monitoring System (IDPMS). These initiatives are designed to streamline compliance requirements for exporters, importers, and banks while maintaining regulatory oversight.
2. Simplification for Low-Value Transactions
A key highlight of the revised framework is the relaxation for bills of value up to ₹10 lakh. Under the new system, such entries can now be closed based on exporter or importer declarations. This includes the option to use quarterly consolidated statements, significantly reducing the administrative burden on businesses that handle a high volume of smaller-value trade transactions.
3. Role of Authorised Dealer (AD) Banks
Authorised Dealer (AD) banks will continue to play a central role in ensuring smooth functioning of the revised system. They are required to review the charges associated with such closures and ensure compliance with the updated instructions. This supervisory role aims to maintain the integrity of the trade reporting framework while allowing greater ease for businesses.
4. Relief from Penal Charges
In line with the objective of reducing compliance costs, the RBI has directed that no penal fees should be levied by AD banks for these simplified closures. This move is expected to provide significant relief to small and medium exporters and importers, who often face delays and additional costs in reconciling entries in EDPMS and IDPMS.
5. Conclusion
In summary, the RBI’s simplification measures for EDPMS and IDPMS represent a step toward improving the ease of doing business in India’s external trade sector. By allowing low-value bills to be closed on self-declarations and eliminating penal charges, the central bank has made the process more efficient, cost-effective, and business-friendly. These changes are likely to benefit a large section of exporters, importers, and banks while enhancing overall compliance efficiency.
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