Daijiworld Media Network - New Delhi

New Delhi, Oct 7: In a move aimed at simplifying customs procedures and enhancing ease of doing business, the Central Board of Indirect Taxes and Customs (CBIC) has introduced a system-based auto-approval process for IFSC code registration, according to an official statement released Tuesday.

The new system will automatically approve the registration of the same bank account and IFSC code combination for a particular Importer Exporter Code (IEC) at multiple customs locations, provided it has already been approved at one location. This eliminates the need for manual verification by customs officers at each port, streamlining the process and reducing duplication.

According to CBIC, the initiative is expected to expedite the processing of export-relate

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