Master Circular on Conduct of Government Business by Agency Banks - Payment of Agency Commission

Question 1

Rates for Agency Commission per transactions for receipts in Physical mode and e-mode?

Answer 1

Rs. 40/- and Rs 9/- respectively

Question 2

Rates for Agency Commission per transactions for payments of pension?

Answer 2

Rs. 75/-

Question 3

Rates for Agency Commission per transactions for payments other than Pension?

Answer 3

6.5 Paise per Rs. 100/- Turnover

Question 4

As per the agreement that agency banks have with RBI, violation or noncompliance of instructions issued by Government or Reserve Bank shall attract imposition of penalty which is ……………………….

Answer 4

Bank rate + 2%