EDPMS (Export Data Processing and Monitoring System) is an RBI system used by authorised banks to monitor export transactions in India. It helps track export shipments, export documents, and the receipt of export payments from overseas buyers.
The system helps banks and exporters keep export records updated and identify transactions where export proceeds are still pending. It also supports compliance with India’s foreign exchange rules for exports.
How It Works:
- Export shipment details are recorded.
- Banks track export documents.
- Export payments are received and reported.
- Pending transactions are monitored.
- Records are updated after payment realisation.
Benefits:
- Helps track export payments
- Supports export compliance
- Makes monitoring easier for banks
- Helps identify pending export proceeds
Example:
An Indian exporter ships goods to a buyer in the UAE. The export transaction is recorded in EDPMS, and the bank updates the record when the buyer’s payment is received.