F.No.32 (07)/PF-II/2011(VoI.II)
Ministry of Finance
Department of Expenditure
(PF-II Division)
North Block, New Delhi
Dated: the 16th of January, 2015
OFFICE MEMORANDUM
Subject: Direct Benefit Transfer / Direct Benefit Transfer of LPG (DBTL) — payment of Commission to Banks.
The issues relating to the payment of appropriate commission with respect to payments made under the Direct Benefit Transfer (DBT)/Direct Benefit Transfer in LPG (DBTL) schemes of the Government have been under active consideration of the Government for some time. The matter has been examined in detail, and in supersession of earlier OMs issued in this regard, it has been decided that:
(i) For urban based DBT schemes like DBTL, the transaction cost may be paid at the NEFT rate as per the extant RBI circular or the APB rate as per the extant NPCI circular (as applicable). The ‘on us and “off-us distinction, wherever it exists, should be maintained on the basis of actuals.
(ii) For rural based DBT schemes like pensions, NREGA, pre-matric scholarship, maternity benefits etc. where a large number of transactions are likely to be through the Banking Correspondents, the transaction charges may be paid @ 1% subject to an upper limit of Rs.10 per transaction, in addition to what is required to be paid vide (i) above.
(iii) The transaction cost may be paid at the time of credit of benefit transfer into the accounts of beneficiaries from the same budget line from which the respective scheme funds / benefits are being transferred.
(iv) This OM will come into immediate effect and may be reviewed from time to time.
2. This issues with the approval of the Finance Minister.
sd/-
(Chittaranj Dash)
Director (PF. II)
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