Circular No. 12 dated 1st October 2025 issued by the Reserve Bank of India (RBI) to simplify the closure of entries in the Export Data Processing and Monitoring System (EDPMS) and Import Data Processing and Monitoring System (IDPMS), specifically targeting small-value transactions. Effective immediately, the new procedure allows Authorised Dealer (AD) Category-I Banks to reconcile and close export and import entries valued at ₹10 lakh per entry/bill or less based solely on a declaration provided by the concerned exporter or importer.
The exporter must declare that the amount has been realized, and the importer must declare that the amount has been paid. The RBI also permits banks to accept any reduction in the declared or invoice value for these bills based on the same self-declaration. To facilitate bulk reconciliation, these declarations can be received quarterly in a consolidated manner. Furthermore, the RBI has instructed AD banks to review the charges levied for handling these small-value transactions, ensuring they are commensurate with the reduced services required under the new, relaxed procedure. Critically, banks are prohibited from levying any penal charges for delays in adhering to regulatory guidelines.