New Delhi, Oct. 1 -- New Delhi: In a significant relief for micro and small exporters, including the fast-growing segment of e-commerce exporters, the Reserve Bank of India (RBI) has simplified the procedure for closing entries in the Export Data Processing and Monitoring System (EDPMS) and Import Data Processing and Monitoring System (IDPMS).

The new rules, effective immediately, allow Authorised Dealer (AD) category-I banks to close small-value transactions of up to Rs.10 lakh per bill based only on a declaration from the exporter or importer, instead of detailed documentation and repeated compliance checks, as per a circular issued by RBI's chief general manager N. Senthil Kumar on Wednesday.

The move is expected to particularly help...