The Reserve Bank of India has revised its guidelines on reconciling and closing export and import entries in the Export Data Processing and Monitoring System (EDPMS) and Import Data Processing and Monitoring System (IDPMS), introducing a simplified process for authorised dealer category-I banks for entries of value equivalent to INR 1 million per entry or bill or less. For these small-value entries, banks may reconcile and close records (including outstanding entries) based on an exporter’s declaration that proceeds have been realised or an importer’s declaration that payment has been made, and may also accept reductions in declared value or invoice value on the same basis. Declarations may be collected quarterly in a consolidated format to enable bulk reconciliation and closure. Banks must review charges levied for handling these transactions so they are commensurate with services rendered, and are instructed not to levy penal charges for delays in adherence to regulatory guidelines. The instructions apply with immediate effect, and the Master Directions on Export of Goods & Services and Import of Goods & Services will be updated to reflect the changes.
Reserve Bank of India 2025-10-01
Reserve Bank of India eases EDPMS and IDPMS reconciliation for export and import entries up to INR 1 million
The Reserve Bank of India has revised guidelines for reconciling export and import entries in the Export and Import Data Processing and Monitoring Systems, simplifying processes for authorised dealer category-I banks for entries of INR 1 million or less. Banks can reconcile records based on exporter or importer declarations and collect these quarterly for bulk processing. The guidelines prohibit penal charges for delays and require banks to review transaction handling charges.