Export and Import Compliance Reporting to RBI

Trade Data Processing and Monitoring System

HTC’s Solution to meet RBI Regulatory Requirements

The Reserve Bank of India (RBI) has mandated all banks in India to submit their regulatory reports

for all exports and imports electronically. Information provided by banks in the report serves as a

key data to RBI for tracking the export and import details. So, it is vital for all banks to submit

accurate reports to RBI. Most of the banks are preparing the reports manually, which is done by

various operations teams. The possibilities for inaccuracies are quiet high as vast data must be

used to prepare every report. This results in lower success percentage in reporting. Maintaining

and submitting the compliance reporting as a manual process is a challenge for banks.

In 2014, RBI introduced the use of Export Data Processing and Monitoring System (EDPMS), a

centralised system to monitor export transactions of all banks at each stage. This system eased

monitoring and tracking of exports effectively, which reduced the manual reconciliation and

reporting processes at RBI.

RBI has come up with additional enhancements in EDPMS system to track the export related

inward remittances, which will further strengthen the export bill settlement process and advance

inward compliance at RBI. Now, RBI is directing banks to submit their import data compliance

reporting on the existing platform. HTC has partnered with RBI in designing and implementing the

Trade Data Processing and Monitoring System (TDPMS) along with other HTC’s initiatives at RBI.

TDPMS combines reporting and reconciliation of both import and export data of the banks.

HTC’s Export Data Integration System (EDIS) has been successfully implemented in several

banks to support them in managing export transaction records accurately and submit them at the

stipulated time as per RBI prescribed format. Currently, with RBI’s notice to banks for submitting

both export and import data, HTC has built Trade Regulatory Reconciliation and Compliance

System (TRRACS), which is a one stop solution that enables banks to efficiently automate and

unify their export and import data with RBI’s regulatory compliance requirements.

HTC’s TRRACS will enable banks to automate their reconciliation and compliance reporting for

export and import processes without any major changes to the existing system. TRRACS will

cater to the needs of all trade related regulatory reporting across multiple agencies (DGFT, RBI,

R-Returns, etc.).

ŸCompile and reconcile data

pertaining to trade, which banks

must report to RBI. TRRACS is a

web based system accessible

across branches over the bank’s

secure internal network

ŸNo major changes in existing

trade business processes

followed by banks

ŸAutomated compliance,

reconciliation, and reporting for

Trade Transactions (Export /

Import) to regulatory agencies

(RBI)

ŸEnd-to-end tracking of banks

compliance and reconciliation

status

ŸIntegrated Directorate General of

Foreign Trade (DGFT’s) electronic

Bank Realization Certificate

(e-BRC) Management module for

the completed export bills

ŸElectronic Foreign Inward

Remittance Certificate (e-FIRC)

issuance against inward

remittances

ŸAutomated Tracker/ Mailer for

customer follow-ups and

reporting

Benefits of using TRRACS TRRACS – Regulatory Reporting Made Easier for Banks

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About HTC

l Over 27 years of IT and BPS experience in providing a wide spectrum of cost effective and innovative services

across domains for a wide spectrum of global 2000 customers

l Quality and information security processes compliant to SEI CMM Level 5, ISO 9001, ISO 27001, and PCI DSS

standards

l Global presence, large delivery centers, talented professionals, capabilities across multiple technologies,

platforms, and domains

HTC Global Services (India) Private Ltd.SDF II, Phase II, MEPZ, Tambaram, Chennai-600 045, INDIA Phone:+91 44 2262 3522 Fax:+91 44 2262 7713

TRRACS Interface Diagram

Technology Stackl Java 1.8, JSF 2.2, Prime Faces 5.xl Spring 4.x, Hibernate 5.xl Application Servers: Tomcat 8.x / Weblogic 12cl Databases: My SQL / Oracle / MS SQL Server

For more information. Please contact us at TRRACS@htcindia.com

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