With reference to Electronic Bank Realization Certificate (e-BRC) consider the following statements:1.The certificate is provided by banks to individuals who withdraw money from their personal accounts in order to take advantage of government’s healthcare scheme benefits.2.e-BRC is essential financial information and economic indicator source.Select the correct statements using the codes given below:

Q. With reference to Electronic Bank Realization Certificate (e-BRC) consider the following statements::
1.The certificate is provided by banks to individuals who withdraw money from their personal accounts in order to take advantage of government’s healthcare scheme benefits.
2.e-BRC is essential financial information and economic indicator source.
Select the correct statements using the codes given below:

[A] 1 only

[B] 2 only

[C] Both 1 and 2

[D] Neither 1 nor 2

Answer: B

Notes:

Explanation –

Statement 1 is incorrect. e-BRC is a vital digital certificate for export businesses. A bank issues the e-BRC to confirm that the buyer made payment to the exporter against the export of services or goods.

Statement 2 is correct. It is initiative by the Directorate General of Foreign Trade (DGFT) to digitize and systematically record foreign trade transactions. Hence, e-BRC is essential financial information and economic indicator source.

Source: ForumIAS

Post-Mains Strategy Session by Mr. Ayush Sinha | ForumIAS