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of <h1>DGFT Mandates Regional Authorities to Physically Verify 10% of IECs Monthly, Focusing on Recent Bank Accounts.</h1> The Directorate General of Foreign Trade (DGFT) has implemented a system for limited verification of Importer Exporter Code (IEC) Numbers. Each Regional Authority (RA) is required to physically verify 10% of IECs issued monthly, prioritizing cases where bank accounts were opened less than six months prior to application. Verification is conducted by a team led by an officer of at least FTDO rank. Discrepancies found must lead to immediate suspension or disabling of the IEC. IEC certificates are sent by registered post, with returned certificates prompting further checks. RAs must submit monthly verification reports to DGFT headquarters.
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