Banks Must Use EDPMS for eBRC Generation from Oct 16, 2017; Update Clients as per FEMA Sections 10(4) & 11(1).
The circular addresses Category-I Authorised Dealer banks, directing them to update the Export Data Processing and Monitoring System (EDPMS) with export proceeds data as realized. From October 16, 2017, banks must generate Electronic Bank Realisation Certificates (eBRC) using EDPMS data to ensure data consistency. Banks are advised to inform their clients about these changes. The circular updates the Master Direction No. 16 from January 1, 2016, and is issued under sections 10(4) and 11(1) of the Foreign Exchange Management Act, 1999, without affecting other legal permissions or approvals.
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