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of <h1>Electronic Bank Realization Certificate System Launches June 2012, Replacing Physical Submissions for Foreign Trade Policy Benefits.</h1> The circular introduces the electronic Bank Realization Certificate (e-BRC) system, effective from June 5, 2012, eliminating the need for physical BRC submissions to claim Foreign Trade Policy benefits. Banks are required to upload BRC data electronically daily and convert manually issued BRCs into digital format by July 31, 2012. Exporters must provide commission details separately when filing applications. Regional Authorities (RAs) will use net foreign exchange earnings from e-BRCs to grant Chapter 3 benefits, with pro-rata distribution applied in cases of foreign exchange realization shortfalls. The circular includes detailed illustrations for benefit calculations.
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