RBI asks banks to clear old trade and payment mismatches

The RBI has asked banks to resolve long-pending mismatches between trade and payment records worth thousands of crores. Banks must verify documents and transactions to regularise genuine export-import cases. Clearing old EDPMS and IDPMS entries could improve compliance, prevent businesses from being flagged and ensure more accurate trade data.

from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/auLKNxn
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