RBI Eases EXIM Rules: EDPMS/IDPMS, MTT and SRVA Changes
Why in the news
RBI simplified forex management and backed rupee use in global trade, benefitting exporters, importers and merchant traders.
Key facts
- EDPMS/IDPMS: AD banks can reconcile and close entries for bills of ₹10 lakh or less on the exporter’s or importer’s declaration; quarterly consolidated filing is allowed.
- This helps where payment moves through other AD banks or third parties.
| MTT | SRVA | |
|---|---|---|
| Meaning | Indian merchant buys from one foreign country, sells to another; goods never enter India | Foreign banks’ INR accounts in India for rupee trade settlement |
| Before | 9 months to complete; forex outlay 4 months | Only government securities |
| Now | Forex outlay 6 months | Also NCDs, bonds, commercial papers of Indian firms, within limits |
Exam angle
- EDPMS (export), IDPMS (import); threshold ₹10 lakh; MTT outlay 4 to 6 months.