The Directorate General of Foreign Trade (‘DGFT’) has announced the pilot launch of an upgraded Electronic Bank Realization Certificate (e-BRC) system vide Trade Notice No. 33 dated 10th November 2023, enabling self-certification by exporters. This innovative system marks a significant step towards enhancing efficiency, transparency, and ease of doing business in India’s export sector.
Key Features of the Upgraded eBRC System:-
1. Self-Certification for Exporters: In a bid to enhance efficiency and transparency in trade processes, the new eBRC system allows exporters to self-certify their certificates. This system is integrated with electronic Inward Remittance Messages (IRMs) transmitted directly by banks to the DGFT, thereby simplifying the exporters’ workflow.
2. Streamlined Workflow and Reduced Costs : The enhanced system is set to significantly reduce transaction times and costs for exporters. It aims to ease the reconciliation process of IRMs with shipping bills and SOFTEX invoices, making the process of doing business more accessible and straightforward.
3. Pilot Launch Schedule : The soft launch of the eBRC system is scheduled to commence on 15th November 2023. This initial phase will see a concurrent operation of both the upgraded and legacy systems until all participating banks have transitioned to the new system.
4. Mandatory API Integration for Banks : The new system mandates banks to integrate using an Application Programming Interface (API) for efficient and prompt data exchange. The deadline for this integration is set for 31st January 2024.
5. Outreach and Awareness Campaigns : To familiarize users with the new system, the DGFT will publish a user guide and FAQs on its website. Additionally, the Directorate plans to conduct Exporter Outreach Programs to raise awareness about the new eBRC facility.
6. Feedback and Support Mechanism : Stakeholders can share feedback regarding the alignment of purpose codes to eBRC fields and the rulesets for generating eBRCs. For any issues, suggestions, or feedback related to eBRC, exporters can contact the DGFT Helpdesk through a toll-free number or by submitting a helpdesk ticket on the DGFT website.
This initiative is expected to play a crucial role in facilitating smoother export processes. The large number of documents that exporters provide to the bank can be saved through this mechanism and BRCs will be issued in an efficient manner and smoother manner.
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