No Bank realization Certificate BRC required for Indian Exporters

Foreign Inward Remittance Certificate (FIRC) or Bank Realization Certificate (BRC) is not required to be submitted by exporters now to claim benefits from Director General of Foreign Trade. As per the new developments, the details of inward remittance is linked with the software system of DGFT, where in the details are electronically transferred.

Here the benefit for exporter is, need not to wait to get the hard copy of Bank Realization Certificate from the respective bank to submit with Director General of Foreign Trade (DGFT) to claim for their benefit under Foreign Trade Policy (FTP).

This is a good movement initiated by the authorities to save time and money on the procedures for exporters.