RBI launches new software for export shipping papers

Mumbai, Mar 3 (KNN)  With the launch of a new software system for processing and monitoring exports by RBI, banks have been asked to report the shipping documents of export of goods and services into the new system.
 
“Export Data Processing and Monitoring System (EDPMS) has been operationalized with effect from February 28, 2014,” the RBI has said in a circular to banks who are also authorised dealers for foreign export transactions by exporters and importers.
 
However, the RBI circular said that the old shipping documents would continue to be reported in the old system until the completion of the cycle.  Both the old and new systems will run parallel to each other for some time before the old system is discontinued.
 
The Reserve Bank of India has launched a comprehensive IT based system called Export Data Processing and Monitoring System (EDPMS) for better monitoring of export of goods and software.  It will help banks to report various returns through a single platform.

The starting date of the system along with user credentials and web link for accessing the system would be communicated to the banks shortly.

“AD banks are advised to use web link https://edpms.rbi.org.in/edpms for accessing the system. The user credentials for accessing the system have already been shared with the AD banks,” the apex bank said. 

Authorised Dealers have been asked to inform their constituents in this regard.  (KNN)