Module: General Practice
Q22: What is the role of EDPMS (Export Data Processing and Monitoring System) in the FEMA compliance architecture?
✅ Correct Answer: B
The Triangulation of Data: EDPMS is the backbone of export monitoring in India.
It links three parties: 1. Customs: Sends "Shipping Bill" data to the system.
2. Banks (ADs): Upload "Export Realization" (IRM - Inward Remittance Message) data.
3. RBI: Monitors the "Knocking off" (Reconciliation) of Shipping Bills against Realization.
If a Shipping Bill remains "Open" (unreconciled) in EDPMS beyond the statutory period (now 15 months), the exporter gets flagged on the "Caution List."
It links three parties: 1. Customs: Sends "Shipping Bill" data to the system.
2. Banks (ADs): Upload "Export Realization" (IRM - Inward Remittance Message) data.
3. RBI: Monitors the "Knocking off" (Reconciliation) of Shipping Bills against Realization.
If a Shipping Bill remains "Open" (unreconciled) in EDPMS beyond the statutory period (now 15 months), the exporter gets flagged on the "Caution List."