FOREIGN EXCHANGE MANAGEMENT

With the transition to a market-based system for determining the external value of the Indian rupee the foreign exchange market in India gained importance in the early reform period.

Notifications

(39 kb)
Date : Sep 15, 2017
Export Data Processing and Monitoring System (EDPMS) Issuance of Electronic Bank Realisation Certificate (eBRC)

RBI/2017-18/57
A. P. (DIR Series) Circular No. 04

September 15, 2017

To
All Category - I Authorised Dealer Banks

Madam / Sir

Export Data Processing and Monitoring System (EDPMS)
Issuance of Electronic Bank Realisation Certificate (eBRC)

Attention of Authorised Dealer Category-I (AD Category-I) banks is invited to the provisions contained in the Master Direction No. 16/2015-16 dated January 01, 2016 related to implementation and operationalisation of Export Data Processing and Monitoring System (EDPMS) of RBI as also provisions contained in A P (DIR Series) Circular No. 15 dated July 28, 2014 in terms of which reporting of data related to realisation of export proceeds i.e. ENC and Schedule 3 to 6 files was discontinued with effect from the first fortnight of September 2014 after implementation of EDPMS. Attention of AD Category-I banks is also invited to the provisions contained in A P (DIR Series) Circular No. 74 dated May 26, 2016 in terms of which they were advised to carry out appropriate changes in their IT system / operating procedure immediately, report subsequent export transactions in EDPMS and also capture the details of advance remittances (including old outstanding inward remittances) received for exports in EDPMS.

2. AD Category-I banks are directed to update the EDPMS with data of export proceeds on “as and when realised basis” and, with effect from October 16, 2017 generate Electronic Bank Realisation Certificate (eBRC) only from the data available in EDPMS, to ensure consistency of data in EDPMS and consolidated eBRC.

3. AD Category-I banks may bring the contents of this circular to the notice of their constituents and customers concerned.

4. Aforesaid Master Direction No. 16 dated January 01, 2016 is being updated to reflect the changes.

5. The directions contained in this circular have been issued under Section 10 (4) and Section 11 (1) of the Foreign Exchange Management Act (FEMA), 1999 (42 of 1999) and are without prejudice to permissions / approvals, if any, required under any other law.

Yours faithfully

J K Pandey
Chief General Manager

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