Urgent Issue Regarding CSBV Mode Shipments - Let's Unite for a Resolution | Sell Globally on eBay

electro-international · 2023-09-06T06:15:38.670000Z

I am writing to you today with a pressing concern that has recently arisen in our export operations, particularly those carried out under the CSBV (Claim for Self-Billed Verification) mode. Since 2018, we have been successfully exporting numerous shipments using this mode, but we have encountered a significant challenge that I believe requires immediate attention. Starting from April 1, 2023, all shipments exported under the CSBV mode are now being monitored through the Trade online software of ICICI Bank. The Trade team at ICICI Bank has requested that we provide an IRM (Invoice Reference Number) of each shipment in Excel format, along with a range of documents, including invoice copies, CSBV shipping bills, FIRC (Foreign Inward Remittance Certificate) copies, AWB (Airway Bill) copies, and Reduction Declarations, particularly those up to 25%. However, if the reduction exceeds 25%, these documents will not be closed, and the e-BRC (Electronic Bank Realization Certificate) will not be generated. To make matters more concerning, the charges for closing each shipping bill are exorbitant, with a fee of INR 200 plus GST per bill in my case. For those account holders with a normal account at ICICI Bank, the charges are even higher, ranging from INR 500 to 1000 plus GST.The point of contention here is that despite complying with these stringent requirements and incurring significant costs, our exports do not seem to derive any tangible benefits. In fact, this process consumes a substantial amount of time, money, and energy. To put it into perspective, if there are 500 exports each month, the bank charges for closing each document amount to INR 1,18,000 for those with a platinum account and a staggering INR 5,90,000 for those with a normal account at ICICI Bank. This situation is immensely disappointing for us exporters. It feels like an excessive burden without any commensurate value or benefit. As a result, many exporters are struggling to cope with these financial and administrative challenges, and we believe it is vital to address this issue collectively. I kindly request your assistance in providing a list of email addresses or contacts that we, as exporters, can reach out to. We aim to voice our concerns and grievances to higher authorities such as the RBI (Reserve Bank of India), DGFT (Directorate General of Foreign Trade), FIEO (Federation of Indian Export Organizations), and any other relevant authorities who can help us address and potentially alleviate this issue. Let us, as exporters, unite together and raise our voice as a collective force so that our concerns reach every corner. Together, we can work towards a resolution that benefits the entire exporting community.Your guidance and support in this matter would be invaluable, and we look forward to your response.Thank you once again for your time and assistance. Sincerely,Devang Bhansali

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