REVISED COMMISSION PAYABLE TO SBI CSP
W.E.F : 1st January 2019
******Please follow the 18th number sl.*****
All Branches / Offices
Madam / Dear Sir,
Financial Inclusion
Business Correspondent (BC) Channel
Revision of Commission Payable to BCs and
Revision of fees collected from Customers
1. Please refer to e-Circular No.: RABG/RB-AC-BUSINESS C/18/2017 – 18 dated 16th
December, 2017. Subsequently, it was decided to reimburse an amount equivalent to
3% of GST (for every Rs.18/- paid as GST, Rs.3/-) to BCs from 1st February 2018.
2. In order to have better tax compliance, to promote remittance business & to have
more business based transactions, to compensate BCs / CSPs providing Kiosk Outlets
in Left Wing Extremist affected districts, Aspirational districts, 7 States of North Eastern
Circle and State of Sikkim, etc. the competent authority has approved the revised
commission structure payable to BCs and charges to be collected from customers.
While revised commission payable to BCs will be effective from 1st January 2019 itself,
the revised Account Opening Fees, since waived has become effective from 8th January
2019. Other charges to be collected from customers will come into effect from 1st
February 2019 after development of suitable functionality in Kiosk Banking Portal. The
development of suitable functionality is already under process and will be advised
separately.
3. The details of commission payable to BCs and fee to be collected from customers
are provided as Annexure I & Annexure II separately.
4. Please bring the contents of this circular to the knowledge of all concerned for
meticulous compliance.
Yours faithfully,
(Sushmita Chadha)
Chief General Manager (FI & MF)
Bank Mitra BC aims to serve its valued customers in the best possible way. We provide banking services to people living in remote areas, especially the lower-income group without a bank account.
ReplyDeleteCSP providers offer mini bank facilities to people. We have tie-ups with almost all major banks such as State Bank, Central Bank, Allahabad Bank, Indian Bank, Yes Bank, PNB and many more.