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of <h1>Exporters Can Now Receive Drawback Payments in Any Core Banking Account; No Need for Specific Branch Accounts.</h1> The circular announces a change in the procedure for the payment of drawback amounts to exporters. Previously, exporters were required to have a bank account with an authorized branch at the port of export. With the introduction of Core Banking Solutions (CBS) and advancements like RTGS and NEFT, exporters can now receive drawback payments in any core banking-enabled account across the country. Exporters must provide their bank's IFS code, account number, and get their bank account declaration certified for registration with customs. This change, effective from July 15, 2008, simplifies the process and eliminates the need to open accounts at specific branches.
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