Press Information Bureau

Government of India

Ministry of Commerce & Industry

02-May-2012 16:18 IST

Including Procedural Simplification in Annual Supplement to FTP

Procedural simplification is a continuous exercise. From time to time various measures are announced to simplify processes so as to facilitate foreign trade and bring down their transaction cost. No complaint has been received from the exporters about their difficulties in obtaining Bank Realisation Certificate (BRC). DGFT has been in consultation with all banks so that the Bank Realisation Certificate can be transmitted on-line from the banks to DGFT eliminating the need for the exporters to approach the respective banks for hard copy of BRC.

This information was given by Shri Jyotiraditya M. Scindia, Minister of State for Commerce, Industry and in written reply to a question in Rajya Sabha today.

DS/GK

Online transmission of Bank Realisation Certificates to streamline exporter compliance and remove hard copy submission burdens. DGFT has consulted banks to implement electronic transmission of the Bank Realisation Certificate (BRC) directly to DGFT, removing the need for exporters to obtain hard copy BRCs and intended to streamline compliance and reduce transaction costs.