The Government of India has reviewed the extant FDI policy on various sectors and made following amendments in the Consolidated FDI Policy Circular of 2015, effective from May 12, 2015, by introducing composite caps, so that uniformity and simplicity are brought application fees through Credit/Debit cards and electronic fund transfer from 53 Banks. The facility of online payment was launched by Commerce Secretary Ms. Rita A.Teaotia.

As a measure of Trade Facilitation and Ease of Doing Business, DGFT has already operationalised the facility of Online filing of various applications by the exporters/importers under the Foreign Trade Policy (2015-20). Early this year, DGFT also operationalised the facility of online submission of applications for issue of online Importer Exporter Code in digital format or e-IEC for entrepreneurs/exporters/importers. Now with the online payment facility being available from 53 banks as well as Credit and Debit cards, it would be possible to not only apply online for benefits under various schemes under Foreign Trade Policy but also make payment of the required application fee online, thus totally obviating the need to visit the offices of DGFT or banks for submission of applications. With the launch of this new facility applicants can now pay fees online to DGFT through their Credit /Debit Cards or through net banking in a 24×7 environment, from the comfort of their homes/offices or IT kiosks. This facility would also make the field offices of DGFT paperless to a large extent and enable them to function in 24*7 environment, while saving extra expenditure on storage space. It would also ensure transfer of the fee amount into government account on T+1 working day, avoiding undue delay in deposit of bank drafts etc.

DGFT has signed a Memorandum of Understanding (MOU) with the Central Bank of India, that will provide payment gateway services to the online portal of DGFT to enable applicants/ exporters/ importers to pay their application fees through Credit/Debit Cards or through net banking. The Central Bank of India will thus:

(i)  Provide facility for collection of fee through online portal of DGFT from banks through internet banking, debit cards and credit cards;

(ii)  Provide e-challans, banks scrolls, transaction IDs for all successful transactions

(iii) Refund amount to the applicant within 3 days, in case of failed transactions;

(iv) Provide all relevant details for seamless integration with the PAO and subsequent reconciliation with banks and RBI; and

(v)  Transfer the funds as per remittance norms of T+1 working day.

The charges applicable for using internet banking, debit /credit cards will be as follows:

Transaction Processing Charges Visa / Master Card Credit card transaction:1.45% of payment amount per transaction.

Visa / Master Card/Rupay Debit Card transactions:

   For transaction amount upto Rs.2000/- -: 0.75% of payment amount per transaction.

   For transaction amount above Rs.2000/- -: 1.00% of payment amount per transaction.

Net Banking Transactions:

For transaction amount upto Rs.10,000/- -: Nil

For transaction amount above Rs.10,000/- -:Rs. 14/- per transaction / across all banks

Service tax would be extra

 Source- PIB

———————–

Related Trade Notification is as follows :-

Government of India

Ministry of Commerce & Industry

Department of Commerce

Directorate General of Foreign Trade

Udyog Bhawan,

New Delhi Dated 09. 07. 2015

Trade Notice No. 07/2015

To

  1. All IEC Holders
  2. All EPCs / All Chambers of Trade and Industries
  3. FIEO/ASSOCHAM /CII
  4. All RA’s of DGFT

Subject: Operationalisation of online payments through debit / credit cards.

In keeping with the Digital India vision of Hon’ble Prime Minister, and taking yet another crucial step towards paperless, online functioning in 24×7 environment, Directorate General of Foreign Trade has launched the facility of online payment of application fees through Credit/Debit cards and electronic fund transfer from 53 Banks (List annexed).

2. As a measure of Trade Facilitation and Ease of Doing Business, DGFT has already operationalised the facility of Online filing of various applications by the exporters/importers under the Foreign Trade Policy (2015-20). Early this year, DGFT also operationalised the facility of online submission of applications for issue of online Importer Exporter Code in digital format or e-IEC for exporters/importers. Now with the online payment facility being available from 53 banks, as well as through Credit and Debit cards, it would be possible to not only apply online for e-IEC and benefits under various schemes under Foreign Trade Policy but also make online payment of required application fee.

3. The charges applicable for using internet banking, debit/credit cards will be as follows:

Transaction Processing Charges Visa / Master Card Credit card transaction: 1.45% of payment amount per transaction.

Visa / Master Card/Rupay Debit Card transactions:

For transactions upto Rs.2000/- : 0.75% of payment amount per transaction. For transactions above Rs.2000/- : 1.00% of payment amount per transaction.

Net Banking Transactions:

For transaction upto Rs.10,000/- -: Nil

For transaction above Rs.10,000/- -:Rs. 14/- per transaction / across all banks

Service tax would be extra

(S.P. Roy)
Joint Director General of Foreign Trade
Email: shyama.roy@nic.in

Issued from F.No.01/02/150/AM -13/EDI/PC-2[B]

Annexure

Sl No. Existing list of banks providing Net banking facility Revised list of banks providing Net banking facility
1. Axis Bank Allahabad Bank
2. Bank of India Andhra Bank
3. Central Bank of India Axis Bank
4. HDFC Bank Bank of Bahrain and Kuwait
5. Oriental Bank of Commerce Bank of Baroda
6. Punjab National Bank Bank of India
7. ICICI Bank Bank of Maharashtra
8. IDBI Canara Bank
9. State Bank of India Catholic Syrian Bank
10. Union Bank of India Central Bank of India
11. City Union Bank
12. Corporation Bank
13. Cosmos Bank
14. Dena Bank
15. Deutsche Bank
16. Development Credit Bank
17. Dhanlakshmi Bank
18. Federal Bank
19. HDFC Bank
20. ICICI Bank
21. IDBI Bank
22. Indian Bank
23. Indian Overseas Bank
24. IndusInd Bank
25. ING Vysya Bank
26. Jammu and Kashmir Bank
27. Karnataka Bank Ltd
28. Karur Vysya Bank
29. Kotak Bank
30. Laxmi Vilas Bank
31. Oriental Bank of Commerce
32. Punjab and Maharashtra Co-op Bank
33. Punjab & Sind Bank
34. Punjab National Bank
35. Ratnakar Bank Ltd
36. The Saraswat Co Operative Bank Ltd
37. Shamrao Vitthal Co-operative Bank
38. South Indian Bank
39. Standard Chartered Bank
40. State Bank of Bikaner & Jaipur
41. State Bank of Hyderabad
42. State Bank of India
43. State Bank of Mysore
44. State Bank of Patiala
45. State Bank of Travancore
46. Syndicate Bank
47. Tamilnad Mercantile Bank Ltd
48. TNSC Bank
49. UCO Bank
50. Union Bank of India
51. United Bank of India
52. Vijaya Bank
53. Yes Bank Ltd

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