Inviting comments/suggestions on Draft Standard Operating Procedure (SOP) for reporting of Inward Remittance Messages pertaining to NBFC Factors.

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....d Remittance Messages pertaining to NBFC Factors. Kind attention is invited to the ongoing efforts of the Directorate General of Foreign Trade (DGFT) towards enhancing transparency, efficiency and ease of doing business in the export remittance reconciliation process. 2. In order to streamline the reporting of Inward Remittance Messages (IRMs) pertaining to export transactions involving NBFC Factors and to facilitate seamless self-generation of Electronic Bank Realisation Certificates (eBRCs), a Draft Standard Operating Procedure (SOP) for reporting of IRMs pertaining to NBFC Factors has been prepared and is placed at Annexure-I to this Trade Notice. 3. In regards above, Stakeholders, including exporters, banking institutions, NBFC....

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....al institutions 3. All Export Promotion Councils/Commodity Boards Subject: Standard Operating Procedure (SOP) for reporting of IRMs pertaining to NBFC Factors -reg. Reference is drawn to Trade Notice No. 12/2024-25 dated August 14, 2024, and Trade Notice No. 33/2023-24 dated November 10, 2023, wherein this Directorate introduced and subsequently enhanced the online self-certification mechanism for Electronic Bank Realisation Certificates (eBRCs). These initiatives aimed to streamline the reconciliation process of Electronic Bank Realisation Certificates (eBRCs) and promote ease of doing business through digital enablement. 2. In this regard, to further streamline the reporting of inward remittances received through authori....