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EDPMS: Streamlining Export Monitoring

The Export Data Processing and Monitoring System (EDPMS) is an online software introduced by the RBI in 2014 that requires banks to submit exporters' transaction details. It aims to monitor exporters more closely as sometimes they obscure their data to maximize profits. Under EDPMS, banks download shipping documents from export agencies and match this with inward remittance data from exporters. This allows banks to track shipments and exporters to claim benefits faster, while improving India's foreign trade operations and Ease of Doing Business index score.

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SHIKHA DWIVEDI
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215 views14 pages

EDPMS: Streamlining Export Monitoring

The Export Data Processing and Monitoring System (EDPMS) is an online software introduced by the RBI in 2014 that requires banks to submit exporters' transaction details. It aims to monitor exporters more closely as sometimes they obscure their data to maximize profits. Under EDPMS, banks download shipping documents from export agencies and match this with inward remittance data from exporters. This allows banks to track shipments and exporters to claim benefits faster, while improving India's foreign trade operations and Ease of Doing Business index score.

Uploaded by

SHIKHA DWIVEDI
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as PPTX, PDF, TXT or read online on Scribd

EDPMS - Export Data Processing and Monitoring System

• The Export Data Processing and Monitoring System (EDPMS)


is an online software introduced by the RBI in 2014 for all banks
to bring their transactions with the exporters online.
• Exporters in India play a significant role to elevate the economy.
• They help increase the inflow of foreign currency that holds higher
value in the international market. However, exporters sometimes
obscure their data to achieve optimum profit.
• Therefore, the Reserve Bank of India introduced software called EDPMS
to monitor exporters transaction details.
Process of Export Data Processing and Monitoring System

• Under the system, the banks download the shipping bills or softex forms
issued by export agencies such as customs, special economic zones (SEZ)
and Software Technology Parks of India (STPIs), bill of entry issued by
ports.
• This data is then matched with the data on inward remittance of export
proceeds from the exporting company.
• The data set allows banks to immediately track the status of each
consignment exported with all instruments and also allows exporters to
claim benefits faster.
• It has been cited as an example of improved foreign trade operations done
by India and has contributed to the country’s improved score in the Ease of
Doing Business index.

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