Conduct of Government Business by Agency Banks
The Reserve Bank of India (RBI) has issued a Master Circular on the conduct of government business by agency banks, outlining the guidelines for payment of agency commission.
Government transactions eligible for agency commission include:
Sr. No. Type of Transaction Unit Revised Rate
The circular outlines the rates for agency commission, claiming agency commission, and deduction of TDS on agency commission.
Penal interest will be charged for wrong claims.
The Master Circular consolidates the following circulars:
No. Circular No. Date Subject
Annex 1 provides a list of circulars consolidated in the Master Circular.
Chat with the Master Circular:
Download: Master Circular on Conduct of Government Business by Agency Banks – Payment of Agency Commission