Previously, the commission to the agent credited after opening of an account before verification. This is not a correct method as per rule.
Scenario: If the agent code is wrongly entered at the time of opening of an RD account through Agent, the Commission will be credited before verification of account. The reversal of commission is not possible even after cancellation of transactions and temporary account number.
The message has been received from CPC regarding credit of agent commission only after verification of new account by the supervisor. Original Message
Agent commission will be generated for agent linked accounts only after verification of new account. Patch deployed for the same with effect from 02.08.2019. Please circulate this update to all the sols.
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