**Summary:**
This circular, RBI/2017-18/140 DGBA.GBD.2294/15.01.001/2017-18 dated March 15, 2018, issued by the Reserve Bank of India (RBI) to all Agency Banks handling the Special Deposit Scheme (SDS), modifies the procedure for agency commission claims. Effective immediately, agency commission claims related to SDS transactions where mirror accounts are maintained in RBI will be settled at the Central Accounts Section (CAS), Nagpur, instead of at the respective Regional Offices of RBI. Agency banks are instructed to submit their agency commission claims related to SDS transactions to CAS, Nagpur, on a quarterly basis. The circular clarifies that reimbursement claims for interest paid and withdrawals from SDS accounts should continue to be submitted to the respective Regional Offices of RBI where the mirror accounts are maintained. For further information, contact Partha Choudhuri, General Manager, Department of Government Bank Accounts, Central Office, Opp. Mumbai Central Railway Station, 4th Floor, Byculla, Mumbai 400 008. Telephone: 022-23016214, 022-23001670. Fax No. 022-23008764/23009126/23010095, email: pcgmdgba@rbi.org.in. It references Master Circular RBI/2017-18/2 dated July 1, 2017, on Conduct of Government Business by Agency Banks Payment of Agency Commission, which confirms the eligibility of SDS transactions for agency commission.
Key Entities Referenced
Special Deposit Scheme: A deposit scheme operated through agency banks, abbreviated as SDS.
Agency Banks: Banks authorized to handle government business, including transactions related to the Special Deposit Scheme.
RBI2017182: RBI Master Circular dated July 1, 2017, concerning the conduct of government business by agency banks.
Agency Commission: Commission payable to agency banks for operating the Special Deposit Scheme.
Central Accounts Section CAS, Nagpur: The section of the RBI located in Nagpur, Maharashtra, responsible for settling agency commission claims related to SDS transactions where mirror accounts are maintained in RBI.
Regional Offices of RBI: Various regional offices of the Reserve Bank of India where agency banks claim reimbursement of interest paid and withdrawals from SDS accounts.
Partha Choudhuri: General Manager, Department of Government Bank Accounts, Reserve Bank of India (RBI).
Mumbai, Maharashtra: Location of the Central Office, Department of Government Bank Accounts of RBI.
RBI/2017-18/140
DGBA.GBD.2294/15.01.001/2017-18 March 15, 2018
All Agency Banks handling Special Deposit Scheme
Dear Sir,
Agency commission payable to banks for operating
Special Deposit Scheme (SDS)
Please refer to para 2 of our Master Circular RBI/2017-18/2 dated July 1, 2017 on
Conduct of Government Business by Agency Banks- Payment of Agency Commission
where in it is mentioned that SDS transactions undertaken by agency banks are eligible
for agency commission.
2. In this connection, it has been decided that agency commission claims on SDS
related transactions (where mirror accounts are maintained in RBI) will be settled at
Central Accounts Section (CAS), Nagpur and not in respective Regional Offices of RBI,
with immediate effect. Accordingly, all agency banks handling SDS are advised to
submit their agency commission claims related to SDS transactions to CAS, Nagpur on
quarterly basis.
3. However, agency banks will continue to claim reimbursement of interest paid and
withdrawal from SDS accounts from the respective Regional Offices of RBI in which the
mirror accounts are maintained.
Yours faithfully
(Partha Choudhuri)
General Manager
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सरकारी और बक� लखे ा िवभाग, क��ीय कायालर् य, मबुं ई स�� ल रेलव ेस्टेशन के सामन,े चौथी मिंजल, भायखला, मबुं ई - 400 008
Department of Government & Bank Accounts, Central Office, Opp. Mumbai Central Railway Station, 4th Floor, Byculla, Mumbai - 400 008
Telephone: (022) 23016214,(022)23001670 Fax No. (022) 2300 8764/23009126/2301 0095, e-mail : pcgmdgbaco@rbi.org.in
�हदं ी आसान ह,ै इसका �योग बढ़ाइए ।