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.

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Frequently Asked Questions

Common questions about Electronic Bank Realization Certificate Services India.

An Electronic Bank Realization Certificate (eBRC) is a digital certificate issued by banks to exporters for the purpose of claiming benefits under various schemes of the Foreign Trade Policy. It is an initiative to promote paperless trade, where banks can electronically transmit foreign exchange realization details to the DGFT server using a secure digital certificate.

The bank's responsibilities in the eBRC process include generating the eBRC, creating an XML file, uploading the file to the DGFT server, transmitting the foreign exchange realization value without converting it to INR, and uploading the INR equivalent of the realized foreign exchange value after conversion as per RBI rates or standard practices.

The exporter's responsibilities include logging into the eBRC application, selecting and uploading the BRC file from their system, and receiving the processed eBRC data in XML or tabular format from the DGFT server.

The DGFT server facilitates the uploading of files generated by banks, processes and stores the eBRC data, generates acknowledgment XMLs, enables exporters to view the eBRC status, shares eBRC information with government agencies, allows banks to update branch databases, and enables delegation of file uploading to subordinate staff.

The digital certificate used for eBRC must comprise 2048 characters, comply with the SHA-2 standard, be approved by the Controller of Certifying Authorities (CCA), and fall under Class 2 or Class 3 certificates. The authorized signatory will be specified by the DGFT.

The DGFT maintains a Repository of Shipping Bills that allows exporters to capture and link e-shipping bill and eBRC data in an automated manner. Shipping bills from this repository can be utilized in relevant schemes.

Previously, exporters were required to submit physical copies of BRCs to Revenue Authorities. However, since August 17, 2012, this requirement has been annulled as the inward remittance details are now electronically transferred and linked with the DGFT's software system.

The eBRC initiative aims to promote paperless trade by enabling banks to electronically transmit foreign exchange realization details to the DGFT server, eliminating the need for physical submission of BRCs by exporters.

The security of the eBRC process is ensured through the use of digital certificates, which are used by banks to securely transmit foreign exchange realization data to the DGFT server.

The eBRC process benefits exporters by simplifying the process of claiming benefits under various Foreign Trade Policy schemes. It eliminates the need for physical submission of BRCs, streamlines data exchange between banks and the DGFT, and promotes paperless trade through digital processes.