Annexure

FINANCIAL INCLUSION
Business Correspondent (BC) Channel
(Commission Structure effective from 01.04.2021)

S.N. Particulars Existing Proposed Proposed

Rural/Semi Urban Urban / Metro

1a SB account Opening with Rs.15/- per a/c SB account i) Initial deposit ≥ Rs. i) Initial deposit
initial deposit below Opening with 1000 -Rs. 22/- per ≥ Rs. 1000 -Rs. 25/- per
Rs.100/- without Aadhaar e - KYC: a/c. a/c.

1b SB account Opening with Rs.15/-per a/c (Rationale: Promote ii) Initial deposit ii) Initial deposit
initial deposit below e - KYC for operational ≥ Rs.500 to ≥ Rs.500 to < Rs. 1000
Rs.100/- with Aadhaar efficiency) < Rs. 1000 -Rs. 20/- -Rs. 22/- per a/c.
per a/c.
1c SB account Opening with Rs.20/-per a/c iii) Initial deposit iii) Initial deposit
initial deposit of Rs.100/- & ≥ Rs.100 to < Rs. 500 ≥ Rs.100 to < Rs. 500
above but below Rs.500/- -Rs. 20/- per a/c. - Rs. 22/- per a/c.
without Aadhaar
iv) Initial deposit iv) Initial deposit
<Rs.100 (Including < Rs.100 (Including zero
zero balance) balance) -Rs. 17/- per
-Rs. 15/- per a/c. a/c.
1d SB account Opening with Rs.20/-per a/c SB account i) Initial deposit Same as applicable to
initial deposit of Rs.100/- & Opening with OVDs ≥ Rs.100 - Rs. 10/- Rural/Semi-urban
above but below Rs.500/- (without e - KYC). per a/c. category
with Aadhaar
1.e SB account Opening with Rs.20/- per a/c ii) Initial deposit Same as applicable to
initial deposit of Rs.500/- & <Rs.100 (Including Rural/Semi-urban
above without Aadhaar zero balance) -Rs. category
1.f SB account opening with Rs.20/- per a/c 5/- per a/c.
initial deposit of Rs.500 &
above with Aadhaar
2 Opening of RD Accounts Rs.15/- per account Opening of RD Rs. 10/- per a/c. Same as applicable to
(Min. Deposit Rs.50/-) Accounts Min. Rural/Semi-urban
Deposit Rs.50/-) category

(Rationale: Instances of
closure of RD A/cs after
deposit of single
instalment observed)

3 Opening of STDR 0.50% of amount No change 0.50% of amount

deposited (Max.Rs.50/-) deposited.
(Deposit Min. Rs.1000/- & (Deposit Min. Rs.1000/- & Max. Rs. (Max. comm. Rs.100/-)
Max. Rs. 10000/-) 10000/-)
(Deposit Min.
Rs.1000/- & Max. Rs.
20000/-)

4 Cash Deposit Up to Rs. 10,000/-: 0.25% No change Up to Rs. 10,000/-:

(Transaction amount Min Rs. 2/- Max Rs. 8/- 0.25% Min Rs.2/- Max
Rs.100 & above) Rs. 10/-
Rs. 10,001/- to
Rs. 10,001/- to Rs.15,000/-: Rs. 12/-
Rs.15,000/-: Rs. 10/-
Rs. 15,001/- to Rs. 15,001/- to
Rs.20,000/-: Rs. 12/- Rs.20,000/-: Rs. 15/-
 Annexure
FINANCIAL INCLUSION
Business Correspondent (BC) Channel
(Commission Structure effective from 01.04.2021)

S.N. Particulars Existing Proposed Proposed

Rural/Semi Urban Urban / Metro

5 Cash Withdrawal Up to Rs. 10,000/-: 0.50% No Change. Up to Rs. 10,000/-:

(Transaction amount Min Rs.3/- Max Rs.15/- 0.50% Min Rs.3/- Max
Rs.100 & above) Rs.17/-
Rs. 10,001/- to Rs. Rs. 10,001/- to Rs.
15,000/-: Rs.17/- 15,000/-: Rs.20/-
Rs. 15,001/- to Rs. Rs. 15,001/- to Rs.
20,000/-: Rs.20/- 20,000/-: Rs.22/-
6 Remittance (Cash) (Non- 80% of fee recovered from Up to Rs. 10,000/-: 0.25% Min Rs. 2/- Max Rs. Up to Rs. 10,000/-: 0.25%
Home Branch A/Cs) customers, Minimum Rs. 8/- Min Rs.2/- Max Rs. 10/-
8/-, Maximum Rs.80/- Rs. 10,001/- to Rs.15,000/-: Rs. 10/- Rs. 10,001/- to Rs.15,000/-
: Rs. 12/-
(1% of amount remitted,
Min. Rs. 10/- & Max. Rs. Rs. 15,001/- to Rs.20,000/-: Rs. 12/- Rs. 15,001/- to
100/- recovered from the Rs.20,000/-: Rs. 15/-
customers) (No recovery from customers) (No recovery from
customers)
(Rationale: There is no distinction between
Home & Non-Home customers. Doing away (Rationale: There is no
with recovery from customers will give a boost distinction between Home
to migrating customers from Br. To CSPs.) & Non-Home customers.
Doing away with recovery
from customers will give a
boost to migrating
customers from Br. To
CSPs.)

7 Remittance (Transfer) (Home Up to Rs.10,000/-: 1% of the No change Up to Rs.10,000/-: 1% of

Branch A/Cs) amount, Min.Rs.3/-, Max the amount, Min.Rs.3/-,
Rs.10/- Max Rs.12/-
Rs.10,001/- to Rs.15,000/-: Rs.10,001/- to Rs.15,000/-:
Rs.12/- Rs.15/-
Rs.15,001/- to Rs.20,000/-: Rs.15,001/- to Rs.20,000/-:
Rs.15/- Rs.17/-
8 Remittance (Transfer) (Non- 50% of fee recovered from Up to Rs.10,000/-: 1% of the amount, Min.Rs.3/- Up to Rs.10,000/-: 1% of
Home Branch A/Cs) customers, Minimum Rs.5/- , Max Rs.10/- the amount, Min.Rs.3/-,
, Maximum Rs.50/- Max Rs.12/-
Rs.10,001/- to Rs.15,000/-: Rs.12/- Rs.10,001/- to Rs.15,000/-:
(1% of amount remitted, Rs. 15/-
Min. Rs. 10/- & Max. Rs.
100/- recovered from the
customers) Rs.15,001/- to Rs.20,000/-: Rs.15/- Rs.15,001/- to Rs.20,000/-:
Rs. 17/-
(No recovery from customers) (No recovery from
customers)
(Rationale: There is no distinction between
Home & Non-Home customers. Doing away (Rationale: There is no
with recovery from customers will give a boost distinction between Home
to migrating customers from Br. To CSPs.) & Non-Home customers.
Doing away with recovery
from customers will give a
boost to migrating
customers from Br. To
CSPs.)
 Annexure
FINANCIAL INCLUSION
Business Correspondent (BC) Channel
(Commission Structure effective from 01.04.2021)

S.N. Particulars Existing Proposed Proposed

Rural/Semi Urban Urban / Metro

9.a IMPS (Cash) 80% of fee recovered (Cash up to Rs.10,000/-) (Cash up to Rs.10,000/-)
(Up to Rs.5,000/-) from customers, 80% of fee recovered from customers, 80% of fee recovered
Minimum – Rs.8/- & Minimum – Rs.8/- & Maximum – Rs.35/- from customers,
(Recovery from Maximum – Rs.28/- Minimum – Rs.8/- &
customers: 1.25% of Maximum – Rs.40/-
amount remitted, Min. Rs.
24/- & Max. Rs. 100/-)

9.b IMPS (Transfer) 50% of fee recovered No change 50% of fee recovered
from customers, from customers,
(up to Rs.20,000/-) Minimum – Rs.5/- & Minimum – Rs.5/- &
Maximum – Rs.50/- Maximum – Rs.60/-
(Recovery from
customers: 1.25% of
amount remitted, Min. Rs.
24/- & Max. Rs. 100/-)

10 Bill Collection Service i) Up to Rs. 1000/- 80% Same as applicable to

(BBPS) of CCF earned i.e. Rs. 4/- No change Rural/Semi-urban
1. Utilities (Electricity, Gas per bill category
and Water. ii) Above Rs. 1000/- 80%
of CCF earned i.e. Rs.
2. Telecom (Mobile 12/- per bill
Prepaid, Mobile:-post-
paid, Landline:-Post-paid,
Broadband Post-paid)
3. DTH (Any amount 1.25% of the bill amount No change Same as applicable to
permissible by biller) Rural/Semi-urban
category
(Recovery from customers: Up to Rs. 1000/-: Rs. 5/- & Above Rs. 1000/-: Rs. 15/- per bill, NIL for DTH).
 Annexure
FINANCIAL INCLUSION
Business Correspondent (BC) Channel
(Commission Structure effective from 01.04.2021)

S.N. Particulars Existing Proposed Proposed

Rural/Semi Urban Urban / Metro

11 a) Rural CSP (Incentive) Rs.2000/- subject to opening No Change

minimum 50 accounts per
month or minimum 100
transactions per month or both.

NAP

Payment of incentive for all No Change

CSPs at LWE / Aspirational
districts and State of Sikkim
Rs. 3000/- per month as
incentive or the actual
commission including Rural
Commission payable as per the
applicable fee structure for the
BC Channel, whichever is
higher.
Condition:
• CSPs operating in NAP
Aspirational Districts (as
notified by NITI Ayog, GOI)
and in the State of Sikkim
are required to undertake a
minimum number of 25
transactions during the
month.
• Minimum number of
transactions is not
applicable to LWE districts.
Payment of incentive for CSPs No Change
(other than Urban CSPs) of
North Eastern States
Rs. 4000/- per month as
incentive or the actual
commission including Rural
Commission payable as per the
applicable fee structure for the NAP
BC Channel, whichever is higher
Condition:
CSPs operating in North Eastern
States (Rural & semi urban) are
required to undertake a
minimum of 25 transactions
during the month.
 Annexure
FINANCIAL INCLUSION
Business Correspondent (BC) Channel
(Commission Structure effective from 01.04.2021)

S.N. Particulars Existing Proposed Proposed

Rural/Semi Urban Urban / Metro

12 Weekly average balance 1.00% p.a. for average balance i) 1.10% per annum for average Same as applicable to
maintenance fee (each > Rs.1,700/- balance > Rs. 2000/-, subject to Rural/Semi-urban category
CSP) (Min. 200 no. of following conditions:
BSBD accounts)
i) Balances held in account up i) Balances held in account up to
to Rs.5,00,000/- only will be Rs.5,00,000/- only will be
considered for calculation of considered for calculation of
incentive against average incentive against average
balance maintenance fee. balance maintenance fee.

ii) Maximum commission for ii) Maximum commission for

maintenance of average maintenance of average balance
balance for each CSP will be for each CSP will be capped at
capped at Rs. 25000/- per Rs. 25000/- per month inclusive
month inclusive of GST. of GST.

iii) Minimum no of transactions iii) Minimum no of transactions

during the month - RU/SU - during the month - RU/SU - 100,
100, UR/Metro – 200. UR/Metro – 200.

Rationale:
i) Average balance in the
channel is Rs. 2,523/- per
account as on 28.02.2021.

ii) Only active CSPs to get

advantage.
13 Non-zero balance account i Less than 85% - Nil NIL Same as applicable to
(each CSP) Rural/Semi-urban category
ii) 85% and above - Rs.750/- per
Rationale:
month
(Min. 200 no. of accounts i) Zero balance accounts as on
& minimum 25 iii 90% and above -Rs1000/- per 28.02.2021 are now only 2%
transactions during the month (27.48 lacs a/cs) out of the total
month) Nonzero (funded) accounts no. of 1373 lacs accounts.
having monthly average ii) Incentive is being paid even
balance of Rs.100/- & above, though SB accounts are opened
Minimum 100 transactions with zero balance. Further,
during the month at rural / semi incentives are also paid on
urban centre and 200 weekly average balance.
transactions at urban / metro Commission on non - zero
centres balance accounts is proposed to
be done away with on portfolio
basis, which will avoid multiple
incentivisation.
14 Aadhaar seeding (existing Rs. 5/- per account No change Same as applicable to
account holders) Rural/Semi-urban category
15 Mobile Seeding: Rs. 5/- per account No change Same as applicable to
(Inputting Valid Contact Rural/Semi-urban category
Number)
 Annexure
FINANCIAL INCLUSION
Business Correspondent (BC) Channel
(Commission Structure effective from 01.04.2021)

S.N. Particulars Existing Proposed Proposed

Rural/Semi Urban Urban / Metro

16 Generating Green PIN for Rs.5/- per PIN reset per Account No change Same as applicable to
RuPay ATM Cards / Month (For first time PIN Rural/Semi-urban category
generation)

17 Mini Statement through Rs. 2/- per statement No change Same as applicable to
Micro ATM (Maximum 2 Rural/Semi-urban category
mini statement per
account per month)

18 Passbook printing Rs.5/- per passbook per Rs.5/- per passbook per day. Rs.6/- per passbook per day.
day.Rs.6/- per passbook per day
beyond 300 passbooks printing. Condition: Condition:
(Max. 05 times per a/c in a (Max. 05 times per a/c in a
month) month)

19 Social Security Scheme a) Rs.30.00/- No change Same as applicable to

a) PMJJBY. b) Rs.1.00/- Rural/Semi-urban category
b) PMSBY. c) Rs.80.00/- to Rs. 100/-
c) APY. (Depending on number of
(Premium on enrolment enrolments)
to be collected from (Govt. mandated)
customers, as per
Annexure -II enclosed)

Services being rolled out soon

20 Request for issuance of -- Rs. 5/- Rs. 6/-
cheque book of 10 leaves
(Non FI customers with
AEPS)
(Recovery from
customers: First 10
cheque leaves free in a
financial year at branch,
thereafter: 10 leaf
cheque Book at Rs. 40/- +
GST & 25 leaf cheque
Book at Rs. 75/- + GST)

21 Request for Stop cheque -- Rs.2/- per instruments - Max. Rs. Same as applicable to
(Recovery from 5/- Rural/Semi-urban category
customers: Rs. 100/- +
GST per instrument
maximum Rs. 500/- + GST
per instance)

22
Request for Blocking of -- Rs. 2/- per instance Same as applicable to
(RuPay/ATM) Card Rural/Semi-urban category
 Annexure
FINANCIAL INCLUSION
Business Correspondent (BC) Channel
(Commission Structure effective from 01.04.2021)

S.N. Particulars Existing Proposed Proposed

Rural/Semi Urban Urban / Metro

23 NEFT by transfer up to Rs. -- Rs. 2/- per transfer Same as applicable to

10,000/- (Both FI and Non Rural/Semi-urban category
FI customers)
(Recovery from
customers: Up to Rs.
10000/-: Rs. 2/- + GST,
Above Rs. 10000/-: Rs. 4/-
+ GST)
24 Deposit in Loan Accounts

Un - Mapped accounts 0.40% Min. Rs.2/-, Max Rs. 10/- No change Same as applicable to
Rural/Semi-urban category

Mapped accounts 0.50% of collections No change Same as applicable to

made/routed by BCs/CSPs Rural/Semi-urban category