Page 53 - Banking Finance October 017

RBI CIRCULAR

44.02.001/2016-17 dated February 16, 2017, read with Category-I) banks is invited to the provisions contained
the OM No. S-11012(1(12)/MDR/2017/RBD/824-894 in the Master Direction No. 16/2015-16 dated January
dated May 11, 2017 issued by O/o the CGA and our 01, 2016 related to implementation and
clarificatory mail dated May 23, 2017 regarding the operationalisation of Export Data Processing and
reimbursement of Merchant Discount Rate.
Monitoring System (EDPMS) of RBI as also provisions
contained in A P (DIR Series) Circular No. 15 dated July
2. It is again clarified that the full amount paid to the
28, 2014 in terms of which reporting of data related
Government by the customers / through debit / credit
cards should be remitted to the concerned Government to realisation of export proceeds i.e. ENC and Schedule
Ministry / Department. The reimbursement of MDR 3 to 6 files was discontinued with effect from the first
charges on debit card use (up to Rs.one lakh) can be fortnight of September 2014 after implementation of
claimed from RBI separately as per extant guidelines. EDPMS. Attention of AD Category-I banks is also invited
Deduction of MDR charges from the receipts of to the provisions contained in A P (DIR Series) Circular
government is not permissible at all. No. 74 dated May 26, 2016 in terms of which they
were advised to carry out appropriate changes in their
3. Please note that MDR charges on debit card
IT system / operating procedure immediately, report
transactions above Rs.one lakh and on any credit card subsequent export transactions in EDPMS and also
transaction are not being absorbed by Government of
capture the details of advance remittances (including
India and hence will not be reimbursed by RBI.
old outstanding inward remittances) received for
Accordingly, agency banks should not deduct MDR
exports in EDPMS.
charges from the receipts of the government in these
cases also.
2. AD Category-I banks are directed to update the EDPMS
4. It may please be noted that as directed by the O/o the with data of export proceeds on “as and when realised
CGA vide its OM No.S-11012/1(12)/MDR/2017/RBD/824- basis” and, with effect from October 16, 2017
894 dated May 11, 2017, agency banks which have generate Electronic Bank Realisation Certificate (eBRC)
remitted the net amount of Government receipts after
only from the data available in EDPMS, to ensure
deduction of MDR charges to the Ministries/
consistency of data in EDPMS and consolidated eBRC.
Departments in contravention of the guidelines
referred to above are required to remit the MDR
3. AD Category-I banks may bring the contents of this
charges so deducted immediately to the concerned
circular to the notice of their constituents and
Ministry/Department under intimation to Reserve bank
customers concerned.
of India.

Yours faithfully 4. Aforesaid Master Direction No. 16 dated January 01,
(Partha Choudhuri) 2016 is being updated to reflect the changes.
General Manager
5. The directions contained in this circular have been
Export Data Processing and Monitoring issued under Section 10 (4) and Section 11 (1) of the
System (EDPMS) Issuance of Electronic Foreign Exchange Management Act (FEMA), 1999 (42
of 1999) and are without prejudice to permissions /
Bank Realisation Certificate (eBRC) approvals, if any, required under any other law.

RBI/2017-18/57
Yours faithfully
A. P. (DIR Series) Circular No. 04
J K Pandey
1. Attention of Authorised Dealer Category-I (AD Chief General Manager

52 | 2017 | OCTOBER | BANKING FINANCE

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