Chennai: The commerce ministry will initiate talks with RBI, Indian Bankers’ Association among other stakeholders for electronically interlinking the process for obtaining bank reconciliation certificate (BRC) for exporters. In the current form, BRC has been obtained through a clutch of paper works which take off a considerable chunk of time for realisation of the bill after the fulfillment of export obligations. After a meeting with exporters under the umbrella of Federation Indian Export Organisations (Fieo), commerce minister Anand Sharma said,” We are going to have talks with all the stakeholders to cut the time for realisation of bills by way of making the BRC online integrated. By this way exporters can easily realise their bills by electronically transmitting them through regional DGFT centres to the respective banks.” The commerce ministry had embarked on digitalisation in association with the Directorate General of Foreign Trade to address grievances and complete procedures on time.
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