Appointment and Delisting of Brokers
The Reserve Bank of India outlines the procedures for the enrollment/registration of brokers, appointment of sub-agents by Agency banks, and delisting of brokers.
References: CO.DT./13.01.201/692/2000-01 dated August 9, 2000, CO.DT./13.01.251/5341/2001-02 dated January 4, 2000, and CO.DT./13.01.201/4890/1999-00 dated March 6, 2000.
Payment and Rates of Brokerage for Savings Bonds
The circular specifies the rates of brokerage for Savings Bonds, as per GOI Notification No. F.4(1)-W&M/99 dated July 21, 2000, and CO.DT./13.01.201/432/2000-01 dated July 25, 2000.
Additionally, it clarifies that no TDS is applicable on payment of brokerage, as per CO.DT./201/5900/2000-01 dated May 28, 2001, and C.O.DT./13.01.298.
Chat with the Master Circular: