Circular No.ES/20 /2017-18 April 06, 2017
To: Members of the Council
Sub: Views/ Suggestions on Caution Listing of Exporters issued by RBI
The Council is glad to inform you that the Commerce Ministry is organising a meeting with Officials from RBI and Customs and also, representative of Indian Bank Association on 13th April, 2017 at New Delhi. This meeting is being organised with the initiative of Federation of Indian Export Organisation (FIEO).
In this connection, we would like to draw your kind attention to RBI Circular No. 74 dated 26.05.2016 on Export Data Processing and Monitoring System (EDPMS) – Additional modules for caution listing of exporters, reporting of advance remittance for exports and migration of old XOS data wherein banks were advised that cautioning/ de- cautioning of exporters procedure has been automated under EDPMS. An exporter gets caution listed, if realization of a shipping bill remains outstanding for more than two years. Once export proceeds are realized and/ or extension for realization is granted, the exporter automatically gets de- caution listed.
In this connection, FIEO had already requested RBI for an extension beyond 20th April, 2017 and now, RBI feels that sufficient time has already been given to the exporters for reporting the repatriation position and therefore extension beyond 20th April, 2017 may not be desirable.
In this regard, members need to highlight the problems which are not at the end of the exporters but at the end of the bankers as well as any other relevant matters which may help in getting the further extension of the date at least till 30th June, 2017.
Members are requested to kindly send your valuable suggestions/ comments, if any to Mrs. Priya Safaya, Jt. DDG, FIEO ( firstname.lastname@example.org.) with a copy marked to SRTEPC (email@example.com) latest by 10th April, 2017 (Monday) so that FIEO can take up the issues during the meeting.
Members are requested to make note of the above and do the needful.