Primary (Urban) Co-operative Banks (UCBs) can act as PAN Service agents

Under­tak­ing of Activ­i­ty by UCBs as PAN Ser­vice Agents (PSA)

Please refer to cir­cu­lars UBD.BPD. (PCB). Cir. No. 63/13.05.000/2013–14 dat­ed May 16, 2014 and UBD.BPD. (PCB). Cir. No. 38/13.05.000/2013–14 dat­ed Novem­ber 14, 2013, per­mit­ting only Finan­cial­ly Sound and Well Man­aged (FSWM) UCBs to act as PAN Ser­vice Agent (PSA), with pri­or approval of Reserve Bank, by enter­ing into a tie-up with UTI Infra­struc­ture and Tech­nol­o­gy Ser­vices Lim­it­ed (UTIITSL), NSDL e- Gov­er­nance Infra­struc­ture Lim­it­ed or with any oth­er agency autho­rised by Income Tax Depart­ment, Gov­ern­ment of India. 

2. With a view to expand­ing the scope of fee-based ser­vices offered by UCBs, it has now been decid­ed to per­mit all UCBs to act as PAN Ser­vice Agent (PSA) by enter­ing into a tie-up with any agency autho­rised by Income Tax Depart­ment, Gov­ern­ment of India.

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