IDPMS ( Import Data Processing and Monitoring System)

This article is an extract of RBI circular relating to IDPMS. It carries important functionalities, steps involved and benefits . IDPMS refers to Import Data Processing and Monitoring System. RBI constituted a working group which included FED,DGFT,SEZ,FEDAI & selected authorized dealers, to frame a comprehensive IT system to facilitate efficient processing of all import transactions and effective monitoring thereof. The working group had recommended development of a robust and effective IT- based system “Import Data Processing and Monitoring System “(IDPMS) on the lines of “Export Data Processing and Monitoring System” (EDPMS) in consultation with the customs authorities and other stakeholders. Key functionalities of IDPMS: Paperless secure transmission of data relating to imports/exports through from customs, IDPMS to authorized dealers and vice versa Import Bill of entry(BoE) management by bank settlement, extension and adjust / closure Outward remittance management(ORM) by bank Outward Remittance Notification and adjust/closure Multiple ORMs against single BoE and vice versa Banks have direct access to download/upload BoE issued by customs or customers Steps involved: Based on the AD code declared by the importer, the banks shall download the Bill of Entry (BOE) issued by EDI ports from “BOE Master” in IDPMS. For non-EDI ports, AD banks of the importer shall upload the BoE data in IDPMS as per message format “Manual BoE reporting” on daily basis on receipt of BoE from the customer/customs office. AD banks will enter BOE details  and mark off ORMs as per the message format “BOE Settlement” In case of payment after receipt of BoE, the AD bank shall generate ORM for import payments made by the importer customer as per the message format “BOE Settlement” Multiple ORMs can be settled against single BoE and also multiple BoEs can be settled against one ORM. Benefits of the proposed System Ensure better import compliance Alternative to filing paper Easier tracking / generation of export transactions /data/ history Stop /minimize manual data entry work at AD banks Value addition in banking business For Buyers credit Services please Click here RBI Circulars on IDPMS: Report of the Working Group on Import Data Processing and Monitoring System Evidence of Import under Import Data Processing and Monitoring System (IDPMS)
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IDPMS ( Import Data Processing and Monitoring System)

Saurabh Jain
Blog
28th Aug, 2017
IDPMS ( Import Data Processing and Monitoring System)

This article is an extract of RBI circular relating to IDPMS. It carries important functionalities, steps involved and benefits .

IDPMS refers to Import Data Processing and Monitoring System.

RBI constituted a working group which included FED,DGFT,SEZ,FEDAI & selected authorized dealers, to frame a comprehensive IT system to facilitate efficient processing of all import transactions and effective monitoring thereof. The working group had recommended development of a robust and effective IT- based system “Import Data Processing and Monitoring System “(IDPMS) on the lines of “Export Data Processing and Monitoring System” (EDPMS) in consultation with the customs authorities and other stakeholders.

Key functionalities of IDPMS:

  • Paperless secure transmission of data relating to imports/exports through from customs, IDPMS to authorized dealers and vice versa

  • Import Bill of entry(BoE) management by bank settlement, extension and adjust / closure

  • Outward remittance management(ORM) by bank Outward Remittance Notification and adjust/closure

  • Multiple ORMs against single BoE and vice versa

  • Banks have direct access to download/upload BoE issued by customs or customers

Steps involved:

  • Based on the AD code declared by the importer, the banks shall download the Bill of Entry (BOE) issued by EDI ports from “BOE Master” in IDPMS. For non-EDI ports, AD banks of the importer shall upload the BoE data in IDPMS as per message format “Manual BoE reporting” on daily basis on receipt of BoE from the customer/customs office.

  • AD banks will enter BOE details  and mark off ORMs as per the message format “BOE Settlement”

  • In case of payment after receipt of BoE, the AD bank shall generate ORM for import payments made by the importer customer as per the message format “BOE Settlement”

  • Multiple ORMs can be settled against single BoE and also multiple BoEs can be settled against one ORM.

Benefits of the proposed System

  • Ensure better import compliance

  • Alternative to filing paper

  • Easier tracking / generation of export transactions /data/ history

  • Stop /minimize manual data entry work at AD banks

  • Value addition in banking business

For Buyers credit Services please Click here

RBI Circulars on IDPMS:

Report of the Working Group on Import Data Processing and Monitoring System

Evidence of Import under Import Data Processing and Monitoring System (IDPMS)

Saurabh
Blog Author

 

One of the Co-founders, Saurabh serves as an active advisor to several SaveDesk’s portfolio companies and also works closely with them to improve business performance, select key management personnel, ensuring statutory and financial oversight and compliance supported by various agreements.Prior to SaveDesk, Saurabh spent seven years with Standard Chartered Bank commercial banking team as an associate director, where he was responsible for client management,financial analysis, portfolio management and large ticket deal’s execution in South India. Saurabh holds an MBA in Marketing from the Institute of Technology Management, and graduated with Honors degree in Electrical and Electronics Engineering from RGPV, Madhya Pradesh

 

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