sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing | GST - Goods and Services Tax
Latest Expert Exchange
Latest Circulars »
 Penalties And Prosecution Under Income Tax Act And How To Create Wealth
 Auction for Sale (Re-issue) of Government Stock (GS) April 23, 2018
 RBI Working Paper No. 3/2018: Rural Wage Dynamics in India: What Role does Inflation Play?
 Investment reviving, growth to speed up in FY19
 Master Direction - Know Your Customer (KYC) Direction, 2016
 Minutes of the Monetary Policy Committee Meeting April 4-5, 2018
 RBI launches Quarterly Order Books, Inventories and Capacity Utilisation Survey: January-March 2018 (Round 41)
 It is not Business as Usual for Lenders and Borrowers (N. S. Vishwanathan, Deputy Governor, Reserve Bank of India – April 18, 2018 – Speech Delivered at National Institute of Bank Management, Pune on Fourteenth Convocation)
 RBI clarifies that there is no currency shortage
 Auction for Sale (Re-issue) of Government Stock (GS) April 16, 2018
 RBI-Auction of Government of India Dated Securities April 16, 2018

RBI-UCBs - Undertaking of Activity as PAN Service Agent for providing PAN Issuance Services to its Customers by entering into tie-up with UTI Infrastructure and Technology Services Ltd
November, 15th 2013

RBI/2013-14/371
UBD.CO.BPD.(PCB) Cir No. 38/13.05.000/2013-14

November 14, 2013

The Chief Executive Officers
All Primary (Urban) Co-operative Banks

Madam / Dear Sir,

Undertaking of activity by the UCBs as PAN Service Agent (PSA) for 
providing PAN issuance services to its customers by entering into tie-up
with UTI Infrastructure and Technology Services Ltd (UTIITSL)

We have been receiving requests from UCBs to allow them to undertake the activity of providing PAN issuance services to its customers by entering into a tie-up with UTI Infrastructure and Technology Services Ltd (UTIITSL).

2. Considering the responsibilities associated with the activity, it has been decided to permit only Financially Sound and Well Managed UCBs as defined in our circular UBD.CO.LS.(PCB). Cir.No.24/07.01.000/2013-14 dated October 1, 2013 to act as PAN Service Agent (PSA) by entering into a tie-up with UTI Infrastructure and Technology Services Ltd with prior approval of the Bank.

3. UCBs undertaking PSA activity should however, exercise due care, as violations such as delay in forwarding the applications to processing centres of UTIITSL, incomplete applications, insufficient/discrepancy in enclosed documentary proof/applications etc may result in imposition of penalty by the UTIITSL.

4. In case any UCB has already signed an agreement or has planned to engage in the activity of providing PAN issuance services to its customers by entering into a tie-up with UTIITSL, it may approach the concerned Regional Office of the Bank for completion of required formalities/ obtention of regulatory approval, subject to fulfilling the prescribed criteria.

Yours faithfully,

(P K Arora)
General Manager

Home | About Us | Terms and Conditions | Contact Us
Copyright 2018 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Software Reengineering Software Re-engineering Software Reverse Engineering Software Reverse Development Software Change Modulation Software Conversion Software Re-creation Software Re-development

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions