Go Unlimited with Magzter GOLD
Get unlimited access to 10,000+ magazines, newspapers and Premium stories for just
Try GOLD - Free
MSME bodies urge RBI to tweak norms for ecom exports
Business Standard
|March 15, 2025
Micro, small and medium enterprises (MSME) industry bodies have requested the Reserve Bank of India (RBI) for certain changes in the regulations for ecommerce exports.
These MSME bodies met the central bank in Ahmedabad, Gujarat, last week.
"The industry bodies told the RBI that the current system of manually matching shipping bills with inward remittances (IRMs) is impractical for high-volume ecommerce exports," an industry source privy to the development said.
The source noted that they have requested the RBI to develop an automated reconciliation system within the Export Data Processing and Monitoring System (EDPMS), leveraging artificial intelligence (AI) algorithms, to match IRMs with shipping bills based on exporter records, even when amounts vary due to marketplace fees or refunds.
"This system should also allow bulk uploads of transactions, reducing the need for exporters to handle each bill individually. Additionally, the requirement for CA certificates for small exporters should be removed, replacing it with self-declaration forms for MSME with an annual turnover of ₹5 crore or less," the source said.
This story is from the March 15, 2025 edition of Business Standard.
Subscribe to Magzter GOLD to access thousands of curated premium stories, and 10,000+ magazines and newspapers.
Already a subscriber? Sign In
MORE STORIES FROM Business Standard
Business Standard
Sensex, Nifty slide over 1% on AI-led disruption, tariff worries
Overall market capitalisation fell by 3.5 trillion to 465.6 trillion
2 mins
February 25, 2026
Business Standard
'Trade talks to resume after clarity over US tariff situation'
India will resume trade negotiations with the United States once there is greater clarity on the tariff situation in Washington, Commerce and Industry Minister Piyush Goyal said on Tuesday.
1 min
February 25, 2026
Business Standard
How AI is forcing a green rethink for data centres
India will need to factor a green energy component into its data centre policy framework as the country’s expanding digital footprint — driven by the rapid rise of artificial intelligence (AI) systems — creates demand for greater storage capacity, experts said.
2 mins
February 25, 2026
Business Standard
Average pay hike projected at 9.1% in 2026: AON survey
Employees across sectors are expected to get a salary hike of 9.1 per cent on average in 2026, slightly higher than the increment of 8.9 per cent received last year, a survey said on Tuesday.
1 mins
February 25, 2026
Business Standard
At least 13 municipal bond issues in pipeline
Nashik to come up with maiden public issue of green bonds for raising ₹200 crore
2 mins
February 25, 2026
Business Standard
AI, trust, faster bets: Pharma leaders map road to '47
Artificial intelligence (AI) is no longer a side conversation for Indian pharma.
2 mins
February 25, 2026
Business Standard
Skittish investors spooked as dystopian AI outlook goes viral
An imagined dystopia of mass unemployment fuelled by artificial intelligence, highlighted in Citrini Research's now viral report, has unsettled global markets, where a recent huge bet on the technology is starting to show cracks.
3 mins
February 25, 2026
Business Standard
Debt fundraising of Reits, Invits at record high
RBI has proposed that banks be allowed to lend directly to investment trusts
3 mins
February 25, 2026
Business Standard
Tata Sons board defers call on Chandra's reappointment
NOEL TATA, THE CHAIRMAN OF TATA TRUSTS, WHICH OWNS TWO-THIRDS OF TATA SONS, SET ASLEW OF CONDITIONS FOR CHANDRASEKARAN S TERM EXTENSION, SOURCES SAID
2 mins
February 25, 2026
Business Standard
Iran nears deal to buy Chinese anti-ship supersonic missiles
Iran is close to a deal with China to purchase anti ship cruise missiles, according to six people with knowledge of the negotiations, just as the United States deploys a vast naval force near the Iranian coast ahead of possible strikes on the Islamic Republic.
1 min
February 25, 2026
Listen
Translate
Change font size