Bank Realization Certificate - Left hand in the government not knowing or pretending to be not knowing what the right hand is doing.
IT seems exports to Nepal are badly hit because the Customs Department is insisting on Bank Realization Certificate (BRC) for exporters for claiming drawback. The Banks have stopped issuing of BRCs on instructions from DGFT as electronic Bank Realization Certificate was made mandatory with effect from 17.08.2012. (Please see )
According to EEPC, "This is a classic case of the left hand in the government not knowing or pretending to be not knowing what the right hand is doing. In this avoidable bargain, exporters are sufferers with the result that the country is losing precious market in Nepal, which is then going to China."
The exporters simply do not know where to go when Customs officers demand physical/manual BRCswhich Banks simply do not give. That is the DRAWBACK.