On the first day of this month, the Governor of the Reserve Bank of India (RBI) announced a series of measures aimed at promoting ease of doing business, simplifying foreign exchange management, and facilitating greater use of the Indian Rupee (INR) in international trade. To give effect to these announcements, the RBI issued several AP (DIR) circulars. Of particular interest to exporters and importers is the one dealing with reconciliation and closure of entries in the Export Data Processing and Monitoring System (EDPMS) and Import Data Processing and Monitoring System (IDPMS).
RBI’s AP (DIR Series) Circular No. 12