CIRCULAR DGBA.GAD.NO.H – 2995/31.12.010/2014-15, DATED 7-1-2015

PAYMENT OF AGENCY COMMISSION – CERTIFICATION OF CLAIMS BY EXTERNAL AUDITORS

CIRCULAR DGBA.GAD.NO.H – 2995/31.12.010/2014-15DATED 7-1-2015

Please refer to our circular DGBA.GAD.No.2528/31.12.010 (C)/2012-13 dated October 31, 2012 prescribing the format for certification of agency commission claims by external auditors (Chartered Accountants). The certificate to be furnished by the auditors has since been slightly amended. The agency commission claims submitted to our Regional Offices and Central Accounts Section, Nagpur may henceforth be accompanied by a certificate as per the revised format enclosed.

CERTIFICATE BY THE BRANCH OFFICIAL

“Certified that the amount of Rs……. 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 branch 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. We also certify that 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 IT Act.

Signature, name and designation of the authorized

signatory and seal of the bank

CERTIFICATE BY THE CHARTERED ACCOUNTANT

Certified that we have examined the records relating to the Government 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 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 also certified that 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.