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RBI/2016-17/322
DGBA.GBD.No.3262/31.02.007/2016-17
June
15, 2017
All Agency Banks
Dear Sir
Period for Submission of Agency
Commission Claims
Please refer to circular
No.DGBA.GAD.1031/31.12.010/98-99 dated May 6, 1999 wherein all agency banks
were advised to submit their eligible agency commission claims to the
Reserve Bank of India within two quarters from the end of the quarter
during which the transactions have been conducted.
2. On a review, it has now been
decided to reduce the time period allowed to agency banks to furnish their
claim on agency commission to Reserve Bank from two quarters to 90 days
from the end of the quarter in which the transactions have been conducted.
If the banks fail to lodge the claims within the stipulated period
mentioned above they may forward the same only after giving reasons for
delay.
3. This will be applicable for
the agency commission claims for the quarter ended June 30, 2017 onwards.
Yours faithfully
(Partha Choudhuri)
General Manager
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