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Streamlining Exports with DGFT's Electronic Bank Realisation Certificate

Introduction 

In the world of international trade, exports from India are governed by various policies and regulations. One such policy is the requirement for exporters to obtain a Bank Realisation Certificate (BRC) from a designated bank, which certifies that the exporter has received payment for the goods or services exported. The DGFT BRC (Directorate General of Foreign Trade Electronic Bank Realisation Certificate) is the electronic version of this certificate. 

 

What is DGFT e-BRC? 

 

The DGFT BRC is an electronic certificate that replaces the traditional paper-based Bank Realisation Certificate (BRC). It certifies that the exporter has received payment for the goods or services exported and is mandatory for availing certain benefits under the Foreign Trade Policy of India. The e-BRC is generated through the DGFT's online portal and is accessible to authorized banks and the DGFT. 

 

Benefits of DGFT e-BRC for Exporters 

 

Easy Availability: The DGFT e-BRC is issued electronically, which makes it easily accessible for exporters. The online system eliminates the need for physical visits to banks and reduces the time taken to obtain the certificate. 

 

Time-saving: The DGFT BRC is issued in real-time, so exporters can access it immediately after payment for their goods is received. This saves a significant amount of time compared to the physical BRC, which took several days to obtain. 

 

Increased Security: The DGFT e-BRC is a secure and tamper-proof certificate, as it is issued through the DGFT's online system. This reduces the risk and frequency of fraud and ensures that exporters receive the benefits they are entitled to. 

 

Improved Record Keeping: The DGFT e-BRC is stored electronically, which makes it easier for exporters to keep records of their certificates. The online system also provides a secure backup for the certificates, reducing the risk of loss or damage. 


Access to Schemes and Benefits: The DGFT e-BRC is a mandatory document for accessing various benefits and schemes offered by the DGFT. These benefits include duty-free imports, the Rebate of State & Central Taxes and Levies (RoSCTL) scheme, and more. 

 

Steps to Obtain DGFT e-BRC 

 

  1. Contact Bank:  

 

The first step in obtaining the DGFT e-BRC is to contact the bank where the exporter has their export account. The bank will provide the necessary information and assist in the process. 

 

  1. Register with DGFT:  

 

The next step is to register with DGFT's online system. The exporter will need to provide their personal and business details and bank account information. 

 

  1. Submit Application 

 

Once the exporter has registered with the DGFT, they can submit their application for the DGFT BRC. The application should include details of the exported goods, the payment received, and other relevant information. 

 

  1. Receive Certificate 

 

The DGFT e-BRC will be issued electronically and made available to the exporter through the DGFT's online system. The exporter can access the certificate and use it to avail of the various benefits and schemes offered by the DGFT. 

 

Conclusion 

 

In conclusion, the DGFT BRC is an essential tool for exporters in India, providing convenience, speed, accuracy, security, and easy access to information. By eliminating the need for manual submission of BRCs, the e-BRC streamlines the export process and ensures that exporters receive the benefits they are entitled to under the Foreign Trade Policy of India. The DGFT e-BRC is a critical component of the government's efforts to digitize and simplify the process of exporting from India, making it easier for exporters to access the benefits and support they need to grow their businesses. 


Also Read- Essential Documents for Importers in India: A Guide for Successful Importation


 

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