RBI Simplifies Rules for Small Export & Import Bills (EDPMS & IDPMS)
The Reserve Bank of India (RBI) has introduced a welcome relief for businesses that handle smaller value trade transactions. Entries in the Export Data Processing and Monitoring System (EDPMS) and Import Data Processing and Monitoring System (IDPMS) often required lengthy paperwork and strict follow-ups. Now, for transactions up to ₹10 lakh per bill, the process has been simplified.
✅ Key Relaxations by RBI
-
Self-declaration is enough:
-
Exporters can declare that export proceeds have been realised.
-
Importers can declare that payments have been made.
Banks will accept these declarations to close entries in EDPMS/IDPMS.
-
-
Invoice adjustments allowed:
If the invoice value is reduced (due to discount, negotiation, or shipment differences), banks can close entries based on the declaration. -
Quarterly consolidated filing:
Businesses may submit one combined declaration every quarter covering multiple small bills instead of doing it entry by entry. -
No penalty charges:
Banks have been directed not to levy penal charges for delays in following these simplified procedures.
🧾Example – Exports & Imports
Case 1 – Exporter (EDPMS):
Ravi, a textile exporter from Surat, ships garments worth ₹8 lakh to Dubai. Earlier, he had to submit several documents to his bank to close the export entry.
👉 Now, Ravi just submits a simple declaration confirming the payment received. Even if the buyer settles at ₹7.6 lakh instead of ₹8 lakh, his bank will close the entry based on his declaration.
Case 2 – Importer (IDPMS):
Meera, a small trader in Delhi, imports electronic parts worth ₹9 lakh. Her bank previously required multiple papers to close the entry in IDPMS.
👉 Now, Meera can simply declare that she has paid. If she has several such imports in a quarter, she can provide one consolidated declaration to cover all of them.
Both Ravi and Meera save time, cut down paperwork, and avoid extra charges.
🎯 Why This Matters
This reform is a major benefit for small exporters and importers. By reducing compliance costs and paperwork, RBI is making international trade easier for small businesses, allowing them to focus on growing their business instead of chasing documents.
❓ Quick FAQ on EDPMS & IDPMS
1. What is EDPMS?
EDPMS stands for Export Data Processing and Monitoring System. It is the RBI’s online platform where export bills are tracked until the payment is realised.
2. What is IDPMS?
IDPMS stands for Import Data Processing and Monitoring System. It is used by banks and RBI to track import transactions until payments are made.
3. Who benefits from this new RBI rule?
Small exporters and importers handling bills of ₹10 lakh or less per entry benefit the most, as their compliance burden is reduced.
4. What is the new relaxation?
Instead of submitting multiple supporting documents, exporters/importers can now simply give a self-declaration to close entries.
5. From when is this applicable?
The RBI circular states that these instructions are effective immediately.
