3.17

Risk Management System

The policy relating to Risk Management System is given in Paragraph 3.19 of FTP. The Risk Management System shall be in operation as under:-

(a) Computer System in DGFT HQ, on random basis, will select 10% of cases for each RA which has issued scrips in the preceding month by 10 th of the month.

(b) The list of such selected cases will be sent to concerned RA by NIC by 15th of the month.

(c) Concerned RA, will in turn, ask for the original documents by 30th of the month for examination in detail.

(d) The applicant shall be under obligation to submit the document asked for in the next 15 days.

(e) Concerned RA in turn will examine such documents in next 15 days. In cases, there is any deficiency the applicant shall rectify it in next one month from the date of communication by RA. In case of excess availment of rewards, the applicant shall refund the excess claim with interest as prescribed in paragraph 3.19 of FTP.

(f) In case the applicant fails to submit the original documents/ rectify the deficiencies / refund the excess claim as stipulated above, RA will initiate action as per FTDR Act and Rules.