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Banking related issues
 

 

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PXL/HO/Cir-018/2017-18                                                                                   05.06.2017

Hyderabad

 

Dear Sir/Madam, 

 

We would like to inform our members that Export Data Processing & Monitoring System (EDPMS) was launched on March 1, 2014 with an objective of ease of doing business for the exporter, simplify and integrate the documentation process for export on a single platform and also for better monitoring by Reserve Bank of India (RBI). Similarly, RBI has initiated a process of automatic caution listing in cases where a shipping bill has remained open for more that 2(two) years in the EDPMS.

 

We now understand from our member-exporters that the implementation of EDPMS has created some transitional issues for the exporters.

 

A meeting was chaired by the Commerce Secretary, Ministry of Commerce & Industry, Government of India on 13th April 2017 at New Delhi. The minutes of the meeting has been uploaded on our Council's website. Please click on the "link"to view and refer the same. We hope that some of the issues related to Banking would be answered in these minutes.

 

However, we also understand from our member-exporters that some of the issues related to the e-BRCs, non-acceptance of documents by Banks, etc still exists.

 

In view of the above, we would request our member-exporters to submit the details in the following cases:

 

a) Trans-Shipment through Sea Ports like Bandar Abbas, etc in Iran to Central Asian Countries like Kazakhstan, Tajikistan, Azerbaijan etc.

Members may be aware of the fact that the Government of India is keen to promote INSTC route for exports to Central Asian countries.

Our members, who are facing problems on account of shipments made via Sea Ports in Iran to the Central Asian countries may kindly inform us the details as per the format given below:

Shipping Bill No. & date

Country, Port / City of final destination

FOB value in US Dollars

Date on which the documents were submitted / Date of refusal by Bank

Remarks

 

 

 

 

 

NAME OF THE EXPORTER:

IEC CODE No.:

NAME OF THE BANK ALONG WITH THE BRANCH DETAILS:

 

b) Non-handling of export documents by Banks with regard to Sudan / Syria & other OFAC sanctioned countries:

 

We would like to inform our member-exporters that Ministry of Commerce & Industry is seized of this particular issue and has been vigorously taking up the matter with the Reserve Bank of India and the Ministry of Finance on a regular basis.

 

However, with regard to the issue of payments which have already been received from these countries through the Banking Channels & co-relating these payments for issue of e-BRCs by banks is an issue, we request our members to submit the following statement / data in the format given below:

 

S/Bill No. & date

Final Destination (Name of the Country)

FOB Value in US $

Date of which advance payment received by Bank & issue of FIRC

Date of presentation of documents for issue of e-BRC

Remarks

NAME OF THE EXPORTER:

IEC CODE No.:

NAME OF THE BANK ALONG WITH THE BRANCH DETAILS:

 

C) Third party / Third Country payments for Exports:

We also understand that many exporters have highlighted the problem of realization from a third party or a third country.

 

In this regard, Reserve Bank of India's (RBI) instructions contained in the Master Circular on Exports are very clear. Members may kindly refer RBI Circular No. 70 dated 8th November 2013 and Circular No. 100 dated 4th February 2014. A copy of these circulars are enclosed for ready reference of the members. Members may click the below given links.

 

RBI Circular No. 70 dated 8th November 2013

RBI circular No. 100 dated 4th February  2014

 

We would request our member-exporters to submit the details as per the format given above specifically on the above related banking issues immediately to enable us to take up the matter with the Ministry of Commerce & Industry, Government of India.

 

May we request our members to submit the data at the earliest but on or before 15th June 2017 to enable us to submit the same to Ministry.

 

Please send your details to us at romumbai@pharmexcil.com and ed@pharmexcil.com.

 

With regards,

Udaya Bhaskar

Director General

 

Encl:

1. RBI Circular No. 70 dated 8th November 2013

2. RBI circular No. 100 dated 4th February  2014

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