RBI press release dated 9th October, 2020 on their development and regulatory policies.
Automatic Caution Listing of Exporters- Review
As part of automation of Export Data Processing and Monitoring System
(EDPMS), the ‘Caution / De-caution Listing’ of exporters was automated in 2016. Accordingly, the exporters were to be caution-listed automatically, if any shipping bill against them remained outstanding for more than 2 years in EDPMS and no extension was granted for realisation of export proceeds against the outstanding shipping bill. Additionally, the normal system of caution-listing based on the recommendations of the Authorised Dealer (AD) bank before the expiry of 2 years in certain cases continued. In order to make the system more exporter friendly and equitable, it has been decided to discontinue the Automatic Caution-listing. The Reserve Bank will continue with caution-listing based on the case-specific recommendations of the AD bank. Related instructions in this regard will be issued shortly.