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Bank guarantee commission calculation (Accounts)

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This query is : Resolved


( Author )
22 September 2012

Sir,
We have taken Bank Guarantee of Rs.2892000 for 10 years. As per bank circular BG commission charges 0.30% per month. Bank is charging the commission on full amount. But sum bank charge the commission per thousnd amount, i.e. 2892000/1000*0.30 per month amount is Rs. 867.60. It is the correct calculation or not. If it is correct, inform if any RBI Circular or guidline please.


RAMESH KUMAR VERMA

( Expert )
07 September 2013

the amount calculated by mine and you are same .

if need any clarification put up RTI LETTER, ADDRESSED TO RBI.

eminent expert please also reply ...


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