India's RBI sets agency-bank commission and oversight rules
→Agency banks must update government-business claims and reporting controls
Change
India's RBI issued agency-bank directions covering government-business commission, transaction reporting, audit controls and oversight.
Why it matters
Agency banks must follow revised eligibility, reporting and commission-claim rules for government business. Wrong settled agency-commission claims now attract penal interest at Bank Rate plus 2%.
Implications
- → Agency-bank government-business teams must submit agency-commission claims within 60 calendar days from quarter-end.
- → Agency-bank reporting teams must upload GST, ICEGATE and TIN 2.0 luggage files by 1800 hours in RBI systems.
Unlock the full brief.
Implications — what this forces you to change
Who is affected — which roles and obligations are exposed
What to watch — binding deadlines and enforcement dates
Real-time alerts — delivered the moment a binding change is published
Clarify with AI — turn any brief into a decision for your role
Start free trial
No credit card · $29/month after trial · Active in seconds
Source
View on RBI