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of <h1>DGFT Updates Export Claim Procedures: New Rules for Insurance Payments in Handbook, Sub-paragraphs 2.25.2 (a) and (b) Added.</h1> The Directorate General of Foreign Trade has amended the Handbook of Procedures to introduce a new procedure for processing claims when exporters receive payments through insurance agencies instead of banks. Two new sub-paragraphs, 2.25.2 (a) and (b), have been added. Exporters must present proof of payment from the insurance agency to the relevant Regional Authority (RA). The RA will verify the claim, obtain approval from the Additional DGFT (EDI), and upload the value into the EDI system. If the payment proof shows both foreign exchange and INR values, the foreign exchange value will be used; otherwise, the INR value will be converted to USD using the applicable exchange rate.
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