Agency Commission- Furnishing reconciliation certificate - RBI

RBI/2019-20/69
DGBA.GBD.No.648/31.12.007/2019-20

September 25, 2019

All Agency Banks

Dear Sir / Madam

Agency Commission- Furnishing reconciliation certificate

Please refer to our Circular No RBI/2019-20/21 DGBA.GBD.No.5/31.02.007/2019-20 dated July 31, 2019 related to claiming of agency commission based on which agency banks are submitting two certificates to RBI along with the agency commission claims.

2. It is now been decided that agency banks while claiming agency commission may submit the certificate (given in Annex B of the above mentioned Circular) duly certified by Chartered Accountants or by Cost Accountants. Revised Annex B is enclosed. There is no change in Annex A and other usual Certificate from ED / CGM (in charge of government business) to the effect that there are no pension arrears to be credited / delays in crediting regular pension / arrears thereof.

Yours faithfully

(Partha Choudhuri)
General Manager

Encl: As above

Annex B

CERTIFICATE BY THE CHARTERED ACCOUNTANT OR COST ACCOUNTANT

Certified that we have examined the records relating to the Government transactions carried out by the branch and that the amount of Rs…………………….. (Rupees……………………) claimed as agency commission has been audited and found correct taking into account the number of transactions in respect of ‘receipts’ and ‘pension payments’ and the value of transactions in respect of ‘payments other than pension’ as recorded in the books of the bank and in the daily scrolls of Government transactions furnished to the accounting authorities of the Central/ State Governments/RBI and other records available at the branch. It is further certified that agency commission claims for transactions included in the current claim has been made only once.

2. It has also been verified that the collections of Government receipts (both tax and non-tax) on behalf of Centre/State Governments have been duly scrolled and funds remitted to RBI and no transaction is pending for scroll with the bank pertaining to the period for which agency commission is being claimed.

3. It is also certified that the month wise breakup of eligible pensioner’s account available with us is as per the table below, and the agency commission as aforesaid has been arrived at on the basis of only eligible transactions as per the extant instructions of RBI and that the receipt transactions are exclusive of the transactions pertaining to all tax liabilities of the bank.

Signature, Name, Registration No. and address
of the Chartered Accountant or Cost Accountant