RBI-Undertaking of activity by the Urban Cooperative Banks (UCBs) as PAN Service Agent (PSA) for providing PAN issuance services to its customers by entering into tie-up with authorized Agencies RBI-Undertaking of activity by the Urban Cooperative Banks (UCBs) as PAN Service Agent (PSA) for providing PAN issuance services to its customers by entering into tie-up with authorized Agencies Chartered Accountant CA ICAI Chartered Accountants CA ICAI CAinINDIA ICAI Announcements Accounting Standards CA News ICAI Students ICAI Members Case Laws CPT IPCC Final ICAI Course CA Course ICAI Forum CA Question Papers ICAI Study Material

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RBI-Undertaking of activity by the Urban Cooperative Banks (UCBs) as PAN Service Agent (PSA) for providing PAN issuance services to its customers by entering into tie-up with authorized Agencies

May, 16th 2014
RBI/2013-14/593 UBD.CO.BPD.(PCB) Cir No. 63/13.05.000/2013-14 May 16, 2014 The Chief Executive Officers All Primary (Urban) Co-operative Banks Madam / Dear Sir, Undertaking of activity by the Urban Cooperative Banks (UCBs) as PAN Service Agent (PSA) for providing PAN issuance services to its customers by entering into tie-up with authorized Agencies Please refer to circular UBD.CO.BPD.(PCB).Cir.No.38/13.05.000/2013-14 dated November 14, 2013 wherein 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 were permitted to act as PAN Service Agents (PSA) by entering into a tie-up with UTI Infrastructure and Technology Services Ltd with prior approval of the Reserve Bank. 2. It has now been decided that Financially Sound and Well Managed UCBs, as defined in the circular ibid may act as PAN Service Agents (PSA) by entering into a tie-up with NSDL e-Governance Infrastructure Limited or with any other agency authorized by the Income Tax Department, Government of India for this purpose with prior approval of the Reserve Bank. 3. All other terms and conditions as set out in our circular dated November 14, 2013 remain the same. Yours faithfully, (P K Arora) General Manager