Answer Posted / h.r. sreepada bhagi
Foreign Inward Remittance Certificate(FIRC) is issued by the
bank to the Exporter(A/c holder) on receipt of export
proceeds in Foreign Currency.
On receipt of FIRC the Exporter is required to submit FIRC
with export document copies for endorsement. On receipt of
these the bank will issue Bank Realisation Certificate(BRC).
In India exports are governed by DGFT (for IEC Code), RBI,
FEMA, Customs, etc. The exporter is required to submit money
realisation certificates to the RBI through their bank.
Specific requirement of each of the government dept./agency,
may differ from time to time & needs to be complied with as
per the Exim Policy & bank guidelines as and when required.
| Is This Answer Correct ? | 124 Yes | 12 No |
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