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NEW Commission Structure

The document outlines the commission structure for Business Correspondents effective February 2024, detailing rates for various financial services and account openings. It also specifies performance-linked incentives based on transaction volume and account openings, with minimum thresholds required to qualify. Additionally, it includes criteria for social security scheme enrollments to earn further incentives.

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103 views1 page

NEW Commission Structure

The document outlines the commission structure for Business Correspondents effective February 2024, detailing rates for various financial services and account openings. It also specifies performance-linked incentives based on transaction volume and account openings, with minimum thresholds required to qualify. Additionally, it includes criteria for social security scheme enrollments to earn further incentives.

Uploaded by

9797047233
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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Financial Inclusion

Corporate Headquarters, Srinagar.

Commission Structure for Business Correspondents (w.e.f Feb 2024)

Commission Rates:

Service Rate

All kinds of Payments 0.50 % of transaction amount, Max Rs. 50/-


All kinds of Receipts including Third Party Cash
0.50 % of transaction amount, Max Rs. 50/-
Deposit
All kinds of Remittance(including IMPS) 0.40 % of transaction amount, Max Rs. 50/-
SB Account Opening Rs. 40/- per account
Current Account Opening Rs. 100/-per account
Term Deposit 0.50 % of deposited amount, Max Rs. 200/-
Recurring Deposit Account Rs. 20/- per account
Successful Aadhaar Seeding Rs. 10/- per Aadhaar Seeding
Mini Statement Rs. 2/- per statement
Passbook Printing Rs. 5/- per passbook
New Debit Card Request Rs. 10/- per request
Request for Debit Card Block Rs. 2/- per instance
Request for Cheque Stop Rs. 2/- per instrument
Cheque Status Inquiry NIL
PMSBY,JJBY & APY As per Regulator

Performance Linked Incentive:

Qualifying Criteria Amount


A. Transactions

Min 300 Financial Transaction Executed(Including Rs. 2000


JKPDD Bills over BBPS through Kiosk)

Min 500 Financial Transactions Executed(Including Rs. 2500


JKPDD Bills over BBPS through Kiosk)

Min 1000 Financial Transactions Executed(Including Rs. 3000


JKPDD Bills over BBPS through Kiosk)

IMPORTANT:
BC shall be eligible for above performance linked incentive (transaction related) only if they have at a
minimum logged in for 20 days in a month.

B. Account Opening

Min 25 Accounts Rs. 500


Min 50 Accounts Rs. 1000
Min 75 Accounts Rs. 2000
C. Social Security Schemes

Min 25 PMJJBY Rs. 500


Min 60 PMJJBY Rs. 1250
Min 100 PMJJBY Rs. 2500
Min 60 PMSBY Rs. 300
Min 150 PMSBY Rs. 750
Min 300 PMSBY Rs. 1500

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