Appointment and Delisting of Brokers
The Reserve Bank of India has outlined procedures for the enrollment/registration of brokers, appointment of sub-agents by Agency banks, and delisting of brokers.
Payment and Rates of Brokerage for Savings Bonds
The circular specifies the rates of brokerage for Savings Bonds, and clarifies that no TDS (Tax Deduction at Source) is applicable on payment of brokerage.
Key Points:
Brokerage rates are specified in the circular, with references to relevant notifications and dates.
Brokerage claims are to be handled according to the procedures outlined in the circular.
The circular provides a comprehensive guide for banks and brokers operating in the Savings Bonds market.
Chat with the Master Circular: