RBI Hikes Agency Commission for Banks on Government Transactions
In a move aimed at enhancing efficiency in government-related banking services, the Reserve Bank of India (RBI) has revised the agency commission rates paid to banks for handling government business transactions. Effective from April 1, 2025, the revised structure includes increased payouts for electronic revenue transactions, pension disbursements, and non-pension government payments, signaling RBI’s intent to bolster digital handling of public funds and incentivize banks accordingly.
The RBI has increased the agency commission rates paid to banks for conducting Central and State government business. The move is likely to improve efficiency and incentivize banks to digitally process more transactions. The revision comes into effect from April 1, 2025.
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