12-July-2025
Banking
 
RBI releases draft norms for Closure of Shipping Bills in the Export Data Processing and Monitoring System
12-Jul-2025

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.

News Source:- https://www.moneycontrol.com/news/business/rbi-releases-draft-norms-for-closure-of-shipping-bills-in-the-export-data-processing-and-monitoring-system-13269491.html