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Agency Commission- Furnishing reconciliation certificate

RBI/2019-20/21
DGBA.GBD.No.5/31.02.007/2019-20

July 31, 2019

All Agency Banks

Dear Sir / Madam

Agency Commission- Furnishing reconciliation certificate

Please refer to Para 19 and 20 of our Master Circular on ‘Conduct of Government Business by Agency Banks - Payment of Agency Commission’ dated July 02, 2018 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 has now been decided in consultation with Government of India, that agency banks while claiming agency commission from RBI Central Accounts Section, Nagpur and at Regional offices of RBI (including Mumbai Regional Office for GST collections) are required to submit certificates by the bank official and by Chartered Accountant in this regard in the revised format as given in Annex A and Annex B. Certificates in the new format are to be submitted along with the agency commission claims submitted by agency banks from July 1, 2019 onwards.

3. These certificates would be in addition to the 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


ANNEX A

CERTIFICATE BY THE AGENCY BANK

Certified that the amount of Rs…………………….. (Rupees……………………) claimed as agency commission has been arrived at correctly taking into account the number of transactions in respect of’ receipts’ and ‘pension payments’ and the amount of transaction in respect of ‘payments other than pension’ as recorded in the daily scrolls of Government transactions furnished to the accounting authorities of the Central/ State Governments/RBI and other records available in the bank and that only eligible items as specified in RBI Master Circular on "Conduct of Government Business by Agency Banks - Payment of Agency Commission" have been considered while arriving at the said amount. It is further certified that agency commission claims for transactions included in the current claim has been made only once.

2. We also certify 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. Further, we certify that the month-wise breakup of eligible pensioner’s account available with us is as per the table below, and the number of receipt transactions for which agency commission is claimed is exclusive of the transactions pertaining to own tax liabilities of the bank and the taxes deducted at source under various items of the Income Tax Act.

Sr. No. Month No. of Pensioners
1    
2    
3    

Signature, name and designation of the authorized signatory and seal of the bank


Annex B

CERTIFICATE BY THE CHARTERED ACCOUNTANT

Certified that we have examined the records relating to the Govt. 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.

Sr. No. Month No. of Pensioners
1    
2    
3    

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


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