The Reserve Bank of India (RBI) on July 11 released the draft norms for Closure of Shipping Bills in the Export Data Processing and Monitoring System (EDPMS) to address the issues related to regulatory compliance involving reconciliation of small-value exports in the EDPMS.
The central bank has invited feedback by July 31, 2025, RBI release said.
The RBI has said over the years, there has been significant increase in the number of export transactions that flow into the EDPMS, wherein each shipping bill is reconciled against payment received. With the objective of easing compliance, especially for exporters of small value goods, it has been decided to simplify the process of reconciliation in EDPMS.
As per draft norms, Authorised Dealer Category – I banks (AD banks) may adopt the procedure while handling shipping bills of value up to Rs 10 lakh or its equivalent, per shipping bill.
The central bank said such bills may be reconciled and closed in the EDPMS based on a declaration provided by the concerned exporter indicating the details of the shipping bill and that the amount has been realised against the same, any reduction in declared export value of the bills submitted may also be accepted based on the declaration by the concerned exporter, and the declarations referred to in sub-paragraphs a & b above may be obtained from the exporter on a quarterly-basis.
AD banks may review the charges levied for handling these small-value export transactions keeping in view the revised procedure/relaxations and ensure the same are commensurate with the services rendered, release added.
The central bank also said AD banks shall not levy any penal charges (penalty) for delays in adherence to any regulatory prescription.
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