Incentive Scheme for BPMs: Payment of Commission on PO Deposits and Savings Accounts

Incentive Scheme for BPMs: Payment of Commission on PO Deposits and Savings Accounts

The incentive scheme for Branch Postmasters (BPMs) aims to encourage them to promote deposits and savings accounts. The commission structure is as follows:

• Commission rate: 1% on net accretions, excluding interest
• Minimum threshold: No commission will be paid if net accretions are less than ₹500
• Net accretions: Defined as the excess of total deposits over total withdrawals

Commission Calculation and Payment

• If multiple BPMs have worked during the financial year, the commission will be divided among them based on the deposits made
• Only deposits made in savings accounts are eligible
• Interest amounts are not considered as deposits
• Deposits made in March will be ignored, while withdrawals made in March will be accounted for
• Deposits made at AO/HO and through other banking channels (IPPB, internet banking, mobile banking) will also take into account while calculating incentive as per SB Order 30/2021 dated 18/10/2021

Commission Bill Preparation and Verification

• The BPM will prepare the commission bill in April every year and submit it to the AO
• The AO will verify the details in the bill using BO summaries
• The AO will also generate a report of withdrawals made through other channels using SAP (Tcode fagll03) and GL code 8800100010

Payment and Accounting

• The bill will be passed at the AO and returned to the BO for payment
• After payment, the voucher will be sent to the AO and then to the HO for further accounting
• The amount will be charged under the head "Payment of Commission to GDS Branch Postmaster"

Record Keeping

• The AO will maintain a register and keep a record of all bills passed to prevent double claims