**Summary:**
This Reserve Bank of India (RBI) circular, reference number RBI/2021-22/140, CO.DGBA.GBD.No.S11124/20.01.033/2021-2022, dated December 15, 2021, expands the scope of eligible institutions for conducting Government agency business to include scheduled payments banks and scheduled small finance banks. This decision, made in consultation with the Department of Financial Services, Ministry of Finance, Government of India, allows these banks to act as agents of the RBI upon execution of an agreement with the RBI, provided they comply with the existing regulatory framework. The instructions and conditions outlined in the RBI Circular RBI/2021-22/36; CO.DGBA.GBD.No.S774/20.01.033/2021-22 dated May 10, 2021, are now applicable to scheduled payments banks and scheduled small finance banks.
For further information, contact R. Kamalakannan, Chief General Manager, Department of Government and Bank Accounts, Central Office, 4th Floor, Byculla, Mumbai - 400 008. Telephone inquiries can be directed to 022-23016214 or 022-23001670. The fax number is 022-23008764, 23009126, or 23010095, and email correspondence can be sent to cgmicdgbacorbi.org.in.
Key Entities Referenced
Reserve Bank of India (RBI): The central bank of India, responsible for regulating the banking system and acting as an agent for the government.
Scheduled Payments Banks: A type of bank in India focused on providing basic banking services, particularly to underserved populations.
Scheduled Small Finance Banks: A type of bank in India focused on providing financial services to small businesses and farmers.
Department of Financial Services, Ministry of Finance: A department within the Ministry of Finance, Government of India, responsible for overseeing the financial sector.
Government Agency Business: Financial transactions and services conducted by banks on behalf of the government.
R. Kamalakannan: Chief General Manager at the Reserve Bank of India.
Mumbai, Maharashtra: City in India where the Central Office of the Department of Government and Bank Accounts is located.
भारतीय �रज़व� ब�क
RESERVE BANK OF INDIA
__________________________ __________________________
www.rbi.org.in
RBI/2021-22/140
CO.DGBA.GBD.No.S1112/42-01-033/2021-2022 December 15, 2021
All Scheduled Payments Banks and Scheduled Small Finance Banks in India
Dear Sir / Madam
Government Agency Business Arrangement – Appointment of Scheduled Private
Sector Banks as Agency Banks of Reserve Bank of India (RBI)
Please refer to RBI Circular RBI/2021-22/36; CO.DGBA.GBD.No.S77/42.01.033/2021-
22 dated May 10, 2021 on the captioned subject.
2. It has now been decided in consultation with the Department of Financial Services,
Ministry of Finance, Government of India, to make scheduled payments banks and
scheduled small finance banks eligible to conduct Government agency business. Any
payment bank or small finance bank that intends to undertake Government agency
business may be appointed as an agent of RBI upon execution of an agreement with RBI,
provided that the overarching regulatory framework prescribed for these banks is
complied with.
3. All the instructions/conditions prescribed in our aforesaid Circular dated May 10, 2021
will henceforth be applicable to the scheduled payments banks and scheduled small
finance banks also.
Yours faithfully
(R. Kamalakannan)
Chief General Manager
सरकारी और ब�क लेखा िवभाग, क�द्रीय काया�लय, मुंबई स�ट�ल रेलवे �ेशन के सामने, चौथी मंिजल, भायखला, मुंबई - 400 008
Department of Government and Bank Accounts, Central Office, Opp. Mumbai Central Railway Station, 4th Floor, Byculla, Mumbai - 400 008
Telephone: (022) 23016214 / 23001670 Fax No. (022) 23008764 / 23009126 / 23010095, e-mail: cgmicdgbaco@rbi.org.in
िहंदी आसान है, इसका प्रयोग बढ़ाइए।