Banks to switch to ‘e-BRC’ system by 16.08.2012

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PUBLIC NOTICE NO. 08(RE-2012)/2009-14 , DATED 6^TH JULY, 2012

Sub:- Introduction of electronic Bank Realization Certificate (e-BRC) system.

Through Public Notice No.2 (RE-2012)/2009-14 dated 5.6.2012, the issuance and transmission of ‘e-BRC’ by Banks to DGFT in electronic form has been made mandatory w.e.f. 5.7.2012.

2. Requests have been received from various stakeholders for extension of the date of mandatory issuance and transmission of electronic BRC’s on account of lack of readiness. Accordingly, it has been decided that existing system of physical BRC issuance from bank may be continued further for a period up to 16.08.2012 for smooth transition.

EFFECT OF PUBLIC NOTICE:

Time upto 16.08.2012 is allowed to Banks for transition from physical BRC system to ‘e-BRC’ system.