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Financial Inclusion
Business Correspondent (BC) Channel
Revision of Commission Payable to BCs and
Revision of fees collected from Customers
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 1 st January 2019 itself,
the revised Account Opening Fees, since waived has become effective from 8 th January
2019. Other charges to be collected from customers will come into effect from 1 st
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)
State Bank of India Business Correspondent Channel Proposed Commission Structure Annexure - 1
FIMF Department (Wef 01/01/2019)
Existing Proposed
SL Particulars
BC Remuneration BC Remuneration
SB account Opening with
1.a initial deposit below Rs.100/- Nil Rs.15/-
without Aadhaar
SB account Opening with
1.b initial deposit below Rs.100/- Rs.5/- per a/c Rs.15/-
with Aadhaar
SB account Opening with
initial deposit of Rs.100/- &
1.c Rs.5/- per a/c Rs.20/-
above but below Rs.500/-
without Aadhaar
SB account Opening with
initial deposit of Rs.100/- &
1.d Rs.10/- per a/c Rs.20/-
above but below Rs.500/-
with Aadhaar
SB account Opening with
1.e initial deposit of Rs.500/- & Rs.10/- per a/c Rs.20/-
above without Aadhaar
SB account opening with
1.f initial deposit of Rs.500 & Rs.15/- per a/c Rs.20/-
above with Aadhaar
Cash Withdrawal
Upto Rs. 10,000/-: 0.50% Min Rs.3/- Upto Rs. 10,000/-: 0.50% Min
6 (Transaction amount
Max Rs.14/- Rs.3/- Max Rs.15/-
Rs.100 & above)
Existing Proposed
SL Particulars
Charges Charges
SB account opening fee including
1 Rs.20/- per account Nil
enrolment
Cash Withdrawal / Transfer First four withdrawals will be free in a First four withdrawals
(Home branch) (Maximum month. In excess of these four will be free in a month.
Rs.20,000/-) withdrawals, Rs.15/- + GST will be Therafter no transaction
2 charged per transaction. to be allowed.
Cash Withdrawal using Debit
Card / AEPS-On-US (Issuer)
(Max. upto Rs.10,000/-)
Upto Rs.2,000/- : Rs.5/- 1.00% of remitted
Tatkal Money Remittance for >Rs.2,000/- to Rs.5,000/- : Rs.25/- amount, Minimum
3 Non-Home Transactions (Deposit >Rs.5,000/- to Rs.10,000/- : Rs.50/- Rs.10/- & maximum
to Core by cash / Transfer) >Rs.10,000/- to Rs.15,000/- : Rs.75/- Rs.100/-
>Rs.15,000/- to Rs.20,000/- : Rs.100/-
Range Fee
Upto Rs.2,000/- Rs.5/-
IMPS transaction fee (cash 1.25% of remitted
>Rs.2,000 to Rs.5,000 Rs.25/-
transaction upto Rs.5000/- and amount, Minimum
4 >Rs.5,000/- to Rs.10,000/- Rs.50/-
transfer transaction upto Rs.24/- & maximum
Rs.20,000/-) >Rs.10,000/- to Rs.15,000/- Rs.75/- Rs.100/-