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of <h1>New Procedure for Exporters: Receive Drawback Payments Directly to Any Core Banking Account Nationwide from July 15, 2008.</h1> The circular announces a new procedure for exporters to receive drawback payments directly into their core banking enabled accounts at any bank branch nationwide, effective July 15, 2008. Previously, exporters were required to have accounts at authorized bank branches at ports of export. With advancements in banking technology, exporters can now use RTGS and NEFT facilities for transfers if their bank branches are enabled. Exporters must declare their bank details, including the IFS code, to Customs and have their bank account information certified and registered. This change eliminates the need for exporters to open accounts only at designated branches at export ports.
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