The Impressive TimesNew Delhi, July 11, 2025:The Reserve Bank of India (RBI) on Friday released draft guidelines aimed at simplifying the closure process for small-value export shipping bills within the Export Data Processing and Monitoring System (EDPMS). These draft norms are part of RBI’s efforts to reduce compliance burden for exporters, particularly those dealing with low-value shipments.
The central bank has invited stakeholders to submit their feedback on the draft by July 31, 2025.
According to the RBI release, there has been a notable rise in export transactions through the EDPMS over the years, necessitating a more streamlined approach to reconcile each shipping bill with its corresponding payment. To enhance ease of doing business, the RBI has proposed procedural changes specifically for shipping bills valued up to ₹10 lakh (or equivalent in foreign currency).
Under the proposed framework:
Authorised Dealer Category – I Banks (AD banks) will be permitted to reconcile and close eligible shipping bills based on quarterly declarations from exporters.
Exporters will need to confirm that the amount against the shipping bill has been realised.
Any reductions in the declared export value can also be accepted via self-declarations.
Additionally, the RBI has instructed AD banks to review their fee structures for handling these transactions to ensure charges are fair and proportionate to the revised compliance mechanism. Importantly, no penal charges will be allowed for delays linked to regulatory requirements under this revised system.
The move is seen as a compliance relaxation aimed at fostering a smoother export environment, especially for small exporters who often face delays and penalties under existing reconciliation rules.
Exporters, banks, and industry bodies have been encouraged to review the draft and submit inputs before the deadline.
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