Electronic Bank Realization Certificate

Electronic Bank Realization Certificate (BRC) or eBRC is issued by banks to the exporter for the purpose of claiming benefits under the various schemes of the Foreign Trade Policy. eBRC is initiative to promote paperless trade and the DGFT has created an electronic platform for Bank Realization Certificate. Using the eBRC platform, banks can electronically transmit foreign exchange realization from banks to the DGFT server. This process is secured by the use of a digital certificate. In this article, we look at the Electronic Bank Realization Certificate (BRC) or eBRC in detail.

Responsibilities of the Bank

The bank is responsible to perform the following functions:

Generate e-BRC.
Generate XML file.
Upload the file on DGFT Server.
Transmit foreign exchange realized value without converting it into INR to the DGFT server.
Upload the INR of the realized foreign exchange value. The conversion should be performed in accordance with the notified RBI rates.
If the rate of exchange is not available from RBI, banks may pursue the conversion of currency as per its standard practice.

Responsibilities of an Exporter

The exporter is required to:

Login to the e-BRC application by logging into the portal.
Use the option of uploading BRC.
Select file from file system and upload the same.
The server will verify the user, authenticate data, and provide the result of the process in XML or tabular format, as chosen by the user.

How Does the Server Work?

It is implicit that the process of uploading certificates is done through the DGFT server. Let us have an in-depth understanding on what the server offers:

Facilitate the uploading of file generated by the bank.
Process the file and store e-BRC.
Generate acknowledgement XML.
Enable e-BRC to the applicant.
Providing the facility of viewing the status of e-BRC.
Sharing of e-BRC information with Government or Dept/Agencies.
Provide banks with the facility of updating the database of its branch.
Assist the bank officer to further delegate power to subordinate staff for uploading the file.

Requisites of the Certificate

The digital certificate must comprise of 2048 characters. It must be in accordance with SHA-2 standard, and approved by the Controller of Certifying Authorities (CCA). Certificates of Class 2 and 3 are accepted. The authorized signatory will be specified by the DGFT.

Repository of Shipping Bills

DGFT maintains a Repository of Shipping Bills which facilitates the exporters to capture and link the e-shipping bill and e-BRC data in an automated manner. Shipping bills from the repository may be utilized in any pertinent schemes.

Revenue Authority

Earlier, exporters were required to submit physical copies of BRC to the Revenue Authority. This requirement has been annulled with effect from 17.08.2012. It was decided in this manner considering that the inward remittance is linked with DGFT’s software system, wherein the details are electronically transferred.

Import Export Code

Import Export Code Modification