Para 15.13.3 — CAM

15.13.3 Refund Banker Scheme: In the ‘Refund Banker Scheme’ the refunds generated on processing of Income Tax Returns by the Assessing Officers/CPC- Bangalore are transmitted to the Refund Banker (Presently SBI) for further distribution to the taxpayers. On receipt of encoded file from the Department, Refund Banker processes the refunds, pays electronically on case to case basis, and sends the refund intimation to the taxpayer.