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<!DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd"> <html xmlns="http://www.w3.org/1999/xhtml"> <head> </head> <body> <div style="font-family:Verdana, Geneva, sans-serif; font-size:12px; text-align:justify"> <table width="800" border="0" style="border:1px solid #ccc;padding:5px;" align="center" cellpadding="6" cellspacing="0"> <tr> <td align="left" valign="top"> <br /> Reserve Bank of India <br /><br /> Conduct of Government Business by Agency Banks - Payment of Agency Commission<br /><br /> MANU/RMIC/0341/2015 - (13 Aug 2015)<br /><br /> </td> </tr> <tr> <td align="left" valign="top"></td> </tr> <tr> <td align="left" valign="top" style="background-color:#FDEDCE"><strong>The Reserve Bank of India issued a clarification on activities that do not come under the purview of agency bank business and are not eligible for payment of agency commission. Some such activities notified are: furnishing of bank guarantees/security deposits through private sector banks by government contractors/suppliers; banking business of autonomous/statutory bodies; capital payments by governments for losses incurred by autonomous/statutory bodies; and, prefunded schemes implemented by Central Ministry/Department or State Department without reference to the RBI.</strong></td> </tr> <tr> <td align="left" valign="top" ><strong>Relevant : Master Circular - Agency Commission on conduct of Government Business <manuid>MANU/RMIC/0324/2015</manuid></strong></td> </tr> <tr> <td align="left" valign="top" ><strong>Tags : agency commission, government business, banks</strong></td> </tr> <tr> <td align="left" valign="top"> </td> </tr> <tr> <!--<td><strong>Source : <a target="_new" href="http://www.manupatrafast.com/">newsroom.manupatra.com</a></strong></td>--> <td align="left" valign="top"><strong>Source : newsroom.manupatra.com</strong></td> </tr> <tr> <td align="left" valign="top"> </td> </tr> <tr> <td align="left" valign="top">Regards</td> </tr> <tr> <td align="left" valign="top">Team Manupatra</td> </tr> <tr> <td align="left" valign="top"> </td> </tr> </table> </div> </body> </html>