RBI Simplifies Closure of Small-Value Export and Import Entries in EDPMS and IDPMS [Read Announcement]
RBI has simplified the closure of small-value export and import entries (Rs. 10 lakh or below) in EDPMS and IDPMS based on self-declarations, easing compliance for small traders
The Reserve Bank of India (RBI), through its A.P. (DIR Series) Circular No. 12 dated October 1, 2025, has announced a simplified procedure for reconciling and closing small-value transactions in the Export Data Processing and Monitoring System (EDPMS) and the Import Data Processing and Monitoring System (IDPMS).
According to the revised guidelines, Authorised Dealer Category-I Banks (AD banks) are now permitted to close or reconcile export and import entries of a value of Rs. 10 lakh or less per bill, based on a self-declaration from the concerned exporter or importer.
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Exporters may declare that the export proceeds have been realised, while importers may declare that payment for the import has been made. This relaxation removes the need for extensive document verification for such small-value transactions.
The notification also states that any reduction in the declared invoice value of shipping bills or bills of entry can now be accepted based on the declaration provided by the exporter or importer.
Further, to simplify compliance even more, the RBI has allowed these declarations to be submitted quarterly in a consolidated manner, combining multiple small-value bills into a single statement for closure.
The RBI has directed AD banks to review and rationalise their service charges for handling such low-value export and import transactions to ensure they are reasonable and proportionate to the services provided. The banks have also been instructed not to impose any penal charges for delays in compliance with these regulatory requirements.
These changes take immediate effect from October 1, 2025, and the relevant Master Directions on Export and Import of Goods and Services will be updated accordingly. The circular has been issued under Sections 10(4) and 11(1) of the Foreign Exchange Management Act (FEMA), 1999.
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