On October 7, 2025, at 4:11 PM, the Ministry of Finance announced that the Central Board of Indirect Taxes and Customs (CBIC) introduced a system-based auto-approval for IFSC code registration to enhance ease of doing business. The system will automatically approve requests for registration of the same incentive bank account and IFSC code for a particular Importer Exporter Code (IEC) at multiple customs locations if approved at any one location, eliminating manual intervention. The initiative aims for swift processing, simplified registration at multiple ports, faster credit of export incentives, and enhanced trade efficiency. Exporters get export-related benefits in the bank account declared in the Customs Automated System. There is already a facility for online registration of Authorised Dealer (AD) Code on ICEGATE. Release ID: 2175805.
Key Entities Referenced
Central Board of Indirect Taxes and Customs (CBIC): The central agency responsible for streamlining customs procedures and enhancing trade facilitation. They introduced the system-based auto-approval for IFSC code registration.
IFSC code registration: Registration of an Indian Financial System Code, now streamlined for auto-approval under CBIC's initiative to improve the ease of doing business.
Importer Exporter Code (IEC): Code required for import/export activities; initiative automates IFSC registration for IEC holders at multiple customs locations.
Customs Automated System: System where exporters declare bank accounts for export-related benefits, impacted by the auto-approval for IFSC codes.
ICEGATE: Portal with existing facility for online registration of Authorised Dealer Code by the exporter.
Ministry of Finance
CBIC introduces system-based auto-approval for
IFSC code registration to enhance Ease of Doing
Business
Posted On: 07 OCT 2025 4:11PM by PIB Delhi
In another step towards streamlining Customs procedures and enhancing trade facilitation, the Central Board
of Indirect Taxes and Customs (CBIC) has introduced system-based auto-approval for IFSC code registration
to enhance Ease of Doing Business.
As per the new initiative, the system will automatically approve requests for registration of the same
incentive bank account and IFSC code for a particular Importer Exporter Code (IEC) at multiple
Customs locations, provided the same combination has already been approved at any one location.
Thus, manual intervention by the Port officer will be eliminated, and the system will directly approve
such requests.
This initiative is aimed at:
i. swift processing of bank account and IFSC code approval requests,
ii. simplifying the registration process at multiple ports,
iii. ensuring faster and seamless credit of export incentives into exporters’ bank accounts.
iv. enhancing overall trade efficiency.
Exporter get export-related benefits in bank account declared by the exporter in Customs
Automated System. There is already a facility for online registration of Authorised Dealer (AD) Code
by the exporter on ICEGATE. Requests for registration of incentive-linked bank accounts and IFSC
codes under an Importer Exporter Code (IEC) required approval by Customs officers at each port
location. This often resulted in duplication of efforts and pendency of requests, particularly when the
same bank account and IFSC combination is being registered across multiple customs stations.
CBIC remains committed to leveraging technology to simplify procedures, reduce transaction costs,
and enhance the ease of doing business for India’s trade community with better Customs
experience.
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NB/KMN
(Release ID: 2175805)