Rs. 10 Lakh Bills on Both Import and Export Transaction per Shipping Bill or Bill of Entry can be Written Off on Simple Declaration, RBI Exchange Control Rules Relaxed

· Banks Cut Fees Accordingly

[RBI A.P. (DIR Series) Circular No. 12 dated 1^st October 2025]

Sub: Export Data Processing and Monitoring System (EDPMS) & Import Data Processing and Monitoring System (IDPMS) – reconciliation of export /import entries – Review of Guidelines

Attention of Authorised Dealer Category – I banks (AD banks) is invited to the instructions in the Master Direction – Export of Goods & Services and Master Direction – Import of Goods & Services, related to processing of bills in EDPMS and IDPMS respectively.

2. To facilitate timely closure of entries in EDPMS & IDPMS, and to reduce compliance burden on small exporters and importers, the following directions are being issued.

3. Notwithstanding anything contained in the aforesaid master directions, AD banks shall adopt the following procedure while closing entries (including outstanding entries) in EDPMS & IDPMS of value equivalent to ₹10 lakh per entry/bill or less:

a. Such entries shall be reconciled and closed based on a declaration provided by the concerned exporter that the amount has been realised or by the importer that the amount has been paid.

b. Any reduction in declared value or invoice value of the shipping bills/bills of entry shall also be accepted, based on the declaration by the concerned exporter or importer.

c. The declarations referred above may also be received on a quarterly basis from the exporters and importers in a consolidated manner (by combining several bills in one declaration) for bulk reconciliation and closing of EDPMS/IDPMS entries.

4. Accordingly, AD banks shall also review the charges levied for handling these small-value export and import transactions, keeping in view the revised procedure/relaxations mentioned above and ensure that the same are commensurate with the services rendered. AD banks shall not levy any penal charges (penalty) for delays in adherence to any regulatory guidelines.

5. The above instructions shall come into force with immediate effect. The Master Direction – Export of Goods & Services and Master Direction – Import of Goods & Services shall accordingly be updated to reflect the above changes.

6. AD banks may bring the contents of this circular to the notice of their constituents concerned.

7. The directions contained in this circular have been issued under sections 10(4) and 11(1) of the Foreign Exchange Management Act (FEMA), 1999 (42 of 1999) and are without prejudice to permissions / approvals, if any, required under any other law.