RBI decides to settle agency commission payable to banks for operating Special Deposit Scheme (SDS) at Central Accounts Section (CAS)

Mar 16, 2018 | by Avantis RegTech Legal Research Team

A |  A

The Reserve Bank of India (RBI) vide notification dated March 15, 2018 has 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.  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.

[RBI/2017-18/140 DGBA.GBD.2294/15.01.001/2017-18]

URL: https://rbidocs.rbi.org.in/rdocs/notification/PDFs/NOTI1405C77A2160B904987B48E4CFD01C05860.PDF


Bookmark

Related Updates



Alternate Text

Get updates on the go on RuleZbook Mobile App.