Paragraph 1 explained: this guide covers what it means, who it applies to, the step-by-step process, documents required, fees, due dates and penalties in India — so you can stay compliant with confidence and avoid costly mistakes.
Paragraph 1.17 of the Policy records two electronic systems through which export realisation is captured: the e-BRC, which carries bank-reported realisation details to the DGFT, and the Reserve Bank's Export Data Processing and Monitoring System (EDPMS). Paragraphs 1.06 and 1.07 of the Handbook then say how the realised amount is converted into rupees or dollars in an e-BRC, and what happens when proceeds come through an insurance agency. Where the same export also feeds a refund claim, the GST side is a separate matter; see our page on GST refund on exports.
This article is based on the chapter-wise text of the Foreign Trade Policy, 2023 published on the DGFT website, as consulted on 2 October 2026; the copy carries no "updated up to" date. The procedure is taken from Chapter 1 of the Handbook of Procedures, 2023 as published on the DGFT website (file of July 2026), consulted on 2 October 2026. Later Notifications, Public Notices and Trade Notices should be checked before you act.
The e-BRC lets the DGFT capture details of realisation of export proceeds directly from banks in secured electronic mode (paragraph 1.17(a)). The Reserve Bank's EDPMS monitors export of goods and software, and its data held in the DGFT system can be used by exporters on the DGFT portal (paragraph 1.17(b)). In an e-BRC, foreign exchange is converted at the monthly CBIC rate as on the Let Export Order date, or, where CBIC notifies no rate, at the CBIC rate on the date of realisation (Handbook paragraph 1.06).
What the Policy says
Paragraph 1.17(a): e-BRC
The Electronic Bank Realisation Certificate has enabled the DGFT to capture details of realisation of export proceeds directly from banks in a secured electronic mode. The paragraph says this has allowed various export promotion schemes to be implemented "without any physical interface with the stake holders". In practice the exporter does not carry a paper certificate to the DGFT; the bank reports the realisation and the DGFT system picks it up.
Paragraph 1.17(b): EDPMS
The Reserve Bank has developed a comprehensive IT-based system called the Export Data Processing and Monitoring System (EDPMS), for monitoring export of goods and software and for facilitating authorised dealer banks in reporting returns through a single platform. The paragraph adds that EDPMS data available in the DGFT IT system can also be used by exporters on the DGFT portal.
What paragraph 1.17 does not do
The paragraph is descriptive. It prints no period within which proceeds must be realised, no consequence of non-realisation and no form. Those matters belong to the foreign exchange law and the Reserve Bank's directions. The site's articles on the Foreign Exchange Management (Export and Import of Goods and Services) Regulations, 2026 deal with them: see export declaration, realisation period, reduction, set-off and unrealised exports and export realisation under FEMA section 7. This article explains only what paragraphs 1.17, 1.06 and 1.07 print.
The Policy's own power is policy made under section 5 of the Act; see section 5 of the Foreign Trade (Development and Regulation) Act, 1992.
What the Handbook requires
Paragraph 1.06: conversion of currencies in e-BRCs
| Case | Rule in paragraph 1.06 |
|---|---|
| (a) Currencies for which CBIC notifies exchange rates | The foreign exchange realised, as mentioned by the bank in the e-BRC, is converted into Indian rupees using the monthly exchange rates published by CBIC as on the Let Export Order (LEO) date |
| (b) Currencies for which CBIC does not notify rates | The total realised value in rupees, as mentioned by the bank in the e-BRC, is converted into US dollars using the US dollar to rupee exchange rate prevailing on the date of realisation, as published by CBIC |
The two cases use different dates. In case (a) the reference is the Let Export Order date. In case (b) it is the date of realisation. The paragraph does not say why; it states the rule, and a company that exports in more than one currency should check which case applies to each.
Paragraph 1.07: proceeds realised through an insurance agency
Where an exporter realises export proceeds through an insurance agency, the process under paragraph 1.07(a) runs in these steps:
- The applicant approaches the concerned Regional Authority (RA) with the proof of payment issued by the insurance agency.
- The RA satisfies itself of the bona fides of the payment.
- The RA obtains approval of the EGSTF Division of the DGFT Headquarters.
- The RA uploads the value, in place of the e-BRC value, in the DGFT's EDI system for processing the case.
Paragraph 1.07(b) deals with the amount. If the proof of payment shows the claim value both in foreign exchange and in rupees, the RA uses the foreign exchange value. If the claim value is shown only in rupees, the RA converts it into the equivalent US dollars using the exchange rate published by CBIC that applies on the date of settlement of the insurance claim.
The paragraph does not name the insurer, the form of the proof, or a time limit for any of the four steps.
A practical example
Blue Mango Foods, an invented exporter, ships goods and its overseas buyer pays through a bank. The bank reports the realisation, an e-BRC is generated, and the DGFT system takes the data from the bank (paragraph 1.17(a)). Because the currency is one for which CBIC notifies monthly rates, the e-BRC value in rupees is worked out at the monthly CBIC rate as on the Let Export Order date (Handbook paragraph 1.06(a)). Had the currency been one without a CBIC-notified rate, the rupee amount reported by the bank would be converted into US dollars at the CBIC rate on the date of realisation (paragraph 1.06(b)).
In a second case, Blue Mango's buyer has defaulted and the proceeds arrive as an insurance claim payment. The firm takes the insurer's proof of payment to its Regional Authority; paragraph 1.07(a) applies in place of an e-BRC, and the claim value is used as paragraph 1.07(b) provides. The exporter should check that the proof of payment shows the foreign-exchange value, since that is the figure the RA uses when both values appear.
Need help with an export refund or realisation record?
If your e-BRC does not match your shipping bill or your bank's records, the delay usually shows up when you claim a refund or a scheme benefit. Our team can help you with a GST refund on exports and with putting your export records in order before you file.
Key takeaways
- The e-BRC carries realisation details from banks to the DGFT in electronic form (paragraph 1.17(a)).
- EDPMS is the Reserve Bank's system for monitoring exports; its data in the DGFT system can be used on the portal (paragraph 1.17(b)).
- Currencies with a CBIC-notified rate are converted at the monthly rate as on the Let Export Order date; others at the CBIC rate on the date of realisation (Handbook paragraph 1.06).
- Proceeds through an insurance agency are processed by the Regional Authority after Headquarters approval, using the foreign exchange value where given (Handbook paragraph 1.07).
- None of these paragraphs states a realisation period.
Read next
- Paragraphs 1.12 to 1.20: DGFT online facilities, e-IEC, e-RCMC and e-CoO
- Paragraphs 1.21 to 1.24: customs facilitation, AEO and Towns of Export Excellence
- Section 6 of the Foreign Trade (Development and Regulation) Act, 1992: Director General of Foreign Trade
- Export declaration, realisation period, reduction, set-off and unrealised exports
Disclaimer: Based on the chapter-wise text of the Foreign Trade Policy, 2023 and the Handbook of Procedures, 2023 published on the DGFT website, and on the later Notifications named in this article, as consulted on 2 October 2026. The copies carry no "updated up to" date. Notifications, Public Notices, Trade Notices, the ITC(HS) schedules, Appendices and forms change often; the current text on the DGFT website should be checked before acting. This article is general information, not legal advice; check the official text before acting.