Introduction of enhanced Electronic Bank Realization Certification

Today the Ministry of Commerce in India is set to launch a pilot version of the enhanced Electronic Bank Realisation Certificate (eBRC), allowing exporters to partake in self-certification. The primary objective behind this initiative is to streamline the business environment for traders. The eBRC holds significant importance for exporters, serving as a validation issued by a bank to confirm that the exporter has received payment from a foreign buyer for the exported goods or services.

Under the revamped system, the process will rely on electronic Inward Remittance Messages (IRM) sent directly by banks to the Directorate General of Foreign Trade (DGFT). Subsequently, exporters will utilize the information from these IRMs to self-certify their eBRCs. For more details, refer to the official notification provided by the DGFT.

Exporters in India stand to benefit from various advantages and incentives outlined in the Foreign Trade Policy. To be eligible for these benefits, exporters are required to submit the Bank Realisation Certificate (BRC) as evidence of their exported goods. The introduction of the electronic-BRC, or eBRC, represents a significant step toward promoting paperless trade. The electronic platform created by the DGFT facilitates this initiative.

For further information on the services offered under eBRC, exporters in India can explore the relevant links available on the DGFT website: https://www.dgft.gov.in/CP/?opt=eBRC