Gayle Giddens 1 month
b. To streamline and monitor export transactions for compliance
Explanation:
The Export Data Processing and Monitoring System (EDPMS block blast) was developed by the Reserve Bank of India (RBI) in 2014 to record, monitor, and track export-related transactions handled by Authorised Dealer (AD) banks.
Its main objectives are:
To digitize and streamline the reporting of export data.
To monitor the realization of export proceeds — ensuring that exporters receive payment within the prescribed time limit.
To help the RBI and banks ensure compliance with Foreign Exchange Management Act (FEMA) regulations.
To track outstanding export bills and flag delays or discrepancies.
