Agency Commission on Government Transactions
The Reserve Bank of India has revised the agency commission payable to banks on government transactions, effective July 1, 2012.
The revised rates are as follows:
Sr. No. | Type of Transaction | Unit | Existing Rate | Revised Rate
The agency commission towards Public Provident Fund Scheme, 1968 (PPF) and Senior Citizen Savings Scheme 2004 (SCSS) has also been revised.
The following government transactions are eligible for agency commission:
[RBI/2004/305 (Ref: DGBA.GAD.No.H-2625 -2658/ 31.12.010(C) /2004-05) dated December 17, 2004] [DGBA.GAD.No. H- 8852 /31.12.010(C)/2010-11 dated June 21, 2011]Scheme for Acceptance of Taxes
The scheme for acceptance of income/other direct taxes and profession tax/other taxes of state governments has been outlined.
Chat with the Master Circular:
Download: Master Circular on Conduct of Government Business by Agency Banks – Payment of Agency Commission