DGFT:
DGFT implements NPCI-based Real-time Bank Account Validation for IEC, effective February 2026.
- Mandate: Applicants must declare all active bank accounts linked with PAN, ensuring exact matching of PAN, Name, and Bank details with bank records.
- Validation Workflow:
- Success: Application proceeds normally.
- In Progress: Placed under Automatic Review.
- Failed:
- New IEC: Application rejected.
- Modify IEC: Marked Deficient on first failure (requires correction); Rejected on subsequent failure.
[Trade Notice No. 23/2025-26 dated 06.02.2026]
