🚨 BIG BREAKING NEWS

UCO BANK – COLLECTION AND REMITTANCE OF EMPANELMENT FEE OF ₹5,000 FROM NEWLY EMPANELLED VALUERS

UCO BANK INTRODUCES ₹5,000 EMPANELMENT FEE FOR NEWLY EMPANELLED VALUERS

Detailed Analysis of Head Office Circular dated 05.11.2026

“BANK EMPANELMENT OF VALUERS: UNDERSTANDING EMPANELMENT FEES, CONDITIONS, PROFESSIONAL RIGHTS AND RESPONSIBILITIES.”

1. INTRODUCTION – WHAT IS THIS CIRCULAR ABOUT?

UCO Bank, through its Head Office, Credit Monitoring Department, has issued an internal communication dated 05 November 2026, bearing reference number HO/CRM/2026-27/1065.

The circular relates to the collection of an empanelment fee of ₹5,000 (Rupees Five Thousand only) from valuers who have been newly approved under the Bank’s fresh empanelment process.

The Bank has initiated a fresh empanelment exercise for the forthcoming empanelment period. The first list of approved valuers has already been circulated to the respective Zonal Offices, and individual approval letters have also been shared with the concerned valuers through their personal email addresses.

The Head Office has now instructed all Zonal Offices to collect the prescribed fee from the newly empanelled valuers while handing over their signed empanelment letters.

The main purpose of this circular is to establish a uniform procedure for collecting, depositing, recording and reporting the empanelment fee throughout all UCO Bank Zones.

Reference: UCO Bank, Head Office, Credit Monitoring Department
Circular No.: HO/CRM/2026-27/1065
Date: 05 November 2026
Addressed to: Zonal Heads – All Zones
Subject: Collection and Remittance of Empanelment Fee of ₹5,000 from Newly Empanelled Valuers

2. WHO IS REQUIRED TO PAY THE EMPANELMENT FEE?

The circular specifically identifies the following category:

Valuers who have been approved under the fresh empanelment process.
Valuers whose names have been included in the approved empanelment list.
Newly empanelled valuers who are being issued their signed empanelment letters.

The prescribed fee is ₹5,000 per newly empanelled valuer.

Important clarification: The circular refers specifically to newly empanelled valuers approved through the fresh empanelment process. It does not expressly clarify whether the fee is also applicable to existing empanelled valuers, renewals, extensions, transfers between Zones or other categories.

Therefore, existing empanelled valuers should not automatically assume that they are also required to pay this fee. Such cases should be clarified with the concerned UCO Bank Zonal Office or Head Office.

3. AMOUNT OF EMPANELMENT FEE

The Bank has prescribed the following amount:

₹5,000/- (Rupees Five Thousand only)

The fee is to be collected from each individual valuer who has been approved under the fresh empanelment exercise.

For example:

Particulars	Amount
Empanelment fee per valuer	₹5,000
10 newly empanelled valuers	₹50,000
50 newly empanelled valuers	₹2,50,000
100 newly empanelled valuers	₹5,00,000

The above figures are illustrative calculations based on the prescribed fee.

The circular does not specify whether the amount is inclusive or exclusive of GST, whether any tax invoice will be issued, or whether the fee is refundable in any circumstances. These matters require clarification from the Bank.

4. WHEN IS THE FEE TO BE COLLECTED?

One of the most important instructions in the circular concerns the timing of collection.

The Bank has directed that the fee should be collected:

While handing over the signed empanelment letter to the newly approved valuer.

This means that the collection of the fee is linked to the issuance and delivery of the signed empanelment letter.

The circular does not expressly state that the initial application for empanelment must be accompanied by this fee. Rather, the instruction concerns collection from those who have already been approved under the fresh empanelment process.

This distinction is important for professionals who may be participating in the Bank’s empanelment process.

5. MODE OF PAYMENT

The Bank has permitted the collected amount to be remitted through the following banking channels:

Demand Draft (DD).
NEFT.
RTGS.

The amount collected by the Zonal Offices must be deposited into the designated UCO Bank account mentioned in the circular.

Official Bank Account Details as reproduced in the circular

Particulars	Details
Account Name	UCO Bank Finance Department
Account Number	00020102010002131
IFSC Code	UCBA0000190
Payment Modes	DD / NEFT / RTGS

Important: Before making any payment, the valuer should independently verify the beneficiary account details and payment instructions through an official UCO Bank channel. A copy of the circular alone should not replace normal banking verification.

6. RESPONSIBILITIES OF THE ZONAL OFFICES

The circular places specific responsibilities on all Zonal Offices.

The following four major instructions have been issued:

A. Collection of the prescribed fee

Each Zonal Office must ensure that ₹5,000 is collected from every newly empanelled valuer approved under the fresh empanelment process.

B. Remittance of the collected amount

The amount collected must be transferred to the designated account through DD, NEFT or RTGS.

C. Maintenance of proper records

Each Zonal Office must maintain proper records of the amounts collected from individual valuers and the amounts subsequently remitted to the designated account.

D. Timely reporting and confirmation

The remittance should be completed at the earliest. The Zonal Office must send confirmation, along with relevant transaction details, to the Head Office, Credit Monitoring Department.

The purpose is to enable the Head Office to reconcile the collections and ensure proper settlement of funds.

7. WHY HAS THE BANK ISSUED THIS CIRCULAR?

The circular appears to be an administrative and financial control measure connected with the fresh empanelment exercise.

Its objectives include:

Uniform collection of the prescribed fee across all Zones.
Ensuring that every newly empanelled valuer is treated consistently.
Centralised receipt of the empanelment fee.
Proper accounting and reconciliation of collected amounts.
Avoiding discrepancies between the amount collected by Zonal Offices and the amount credited to the Head Office account.
Establishing accountability for the collection and remittance process.

It is important to understand that this is an internal administrative instruction addressed to the Bank’s Zonal Heads. It is not, by itself, a comprehensive policy document explaining all the terms and conditions governing valuation empanelment.

8. WHAT DOES THIS MEAN FOR ENGINEERS AND REGISTERED VALUERS?

For valuation professionals, this circular has practical implications.

First: Financial implication

Newly approved valuers should be prepared for a payment of ₹5,000 in connection with their fresh empanelment.

Second: Documentation

Valuers should preserve documentary evidence of payment, including:

NEFT/RTGS transaction reference number.
Bank payment receipt.
Demand Draft details, wherever applicable.
Acknowledgement from the concerned Zonal Office.
Copy of the empanelment letter.
Any official communication confirming receipt of the fee.

Third: Professional planning

Engineers and valuers applying for bank empanelment should consider such prescribed charges while planning their professional expenses.

Fourth: Clarity regarding the empanelment period

The circular refers to the ensuing empanelment period but does not specify its exact duration. Professionals should refer to their individual empanelment letters and the applicable empanelment terms to understand the validity period.

9. IMPORTANT QUESTIONS THAT REQUIRE CLARIFICATION

Although the circular clearly specifies the collection and remittance procedure, certain important questions remain unanswered.

These questions may be taken up for clarification during professional discussions with the Bank.

Is the ₹5,000 fee applicable only to newly empanelled valuers?
The circular refers to fresh empanelment. It does not expressly cover renewals or existing empanelled valuers.
Is the fee a one-time payment or an annual charge?
The circular does not specify whether the amount is payable once for the entire empanelment period or periodically.
What is the validity period of the empanelment?
The duration of the ensuing empanelment period is not mentioned in this communication.
Is the fee refundable?
No refund policy has been specified in the circular.
Will the Bank issue an official receipt?
The circular does not describe the receipt or acknowledgement procedure for individual payments.
Is GST applicable?
The circular does not mention GST or whether the prescribed amount is inclusive of any applicable tax.
Does payment of the fee guarantee allocation of valuation assignments?
No such assurance is given in the circular. Empanelment and the allocation of individual valuation assignments should be treated as separate matters.
What happens if a valuer does not pay the fee?
The circular does not specify the consequences of non-payment or the procedure for resolving payment-related disputes.
Will the same fee apply to all categories of valuers?
The communication does not separately discuss Land & Building, Plant & Machinery, Securities or Financial Assets categories.
What is the process for valuers empanelled in multiple Zones or categories?
The circular does not clarify whether separate fees would apply in such circumstances.

These are genuine points requiring clarification and should not be treated as established Bank policy unless confirmed through an official communication.

10. IMPORTANT DISTINCTION – EMPANELMENT DOES NOT MEAN ASSURED WORK

Engineers and valuers must understand an important professional distinction.

Empanelment with a bank generally means that a professional has been approved and included in the Bank’s panel, subject to the applicable terms and conditions.

However, empanelment does not automatically guarantee:

A minimum number of valuation assignments.
A fixed monthly or annual income.
A guaranteed volume of work.
Exclusive engagement by the Bank.
A particular number of properties to be inspected or valued.

Actual assignment allocation will depend on the Bank’s requirements, geographical coverage, internal policies and other applicable conditions.

Therefore, the ₹5,000 empanelment fee should not be confused with a payment guaranteeing future professional assignments.

11. RECOMMENDED ACTIONS FOR NEWLY EMPANELLED VALUERS

Newly approved valuers should follow a systematic approach:

Obtain and carefully read the individual empanelment letter.
Verify the validity period and applicable terms and conditions.
Confirm the prescribed fee and beneficiary account details through the official Bank channel.
Make payment only through the permitted banking modes.
Obtain and preserve proof of payment.
Seek acknowledgement from the concerned Zonal Office.
Clarify whether the fee is one-time, refundable and inclusive of applicable taxes.
Maintain a separate record of empanelment-related correspondence and payments.

12. OVERALL ANALYSIS AND CONCLUSION

UCO Bank’s circular dated 05.11.2026 is an important administrative communication for engineers and valuers who have been selected under its fresh empanelment exercise.

The principal decision communicated through this circular is the collection of ₹5,000 from each newly empanelled valuer at the time of handing over the signed empanelment letter.

The Bank has also established a clear internal mechanism for collecting the amount through its Zonal Offices, remitting it to the designated account and reporting the transaction details to the Head Office, Credit Monitoring Department.

From the professional perspective, the circular highlights the importance of understanding the financial and administrative conditions attached to bank empanelment.

However, several aspects, including the nature and duration of the fee, refundability, GST treatment, renewal applicability and consequences of non-payment, require further clarification.

Our professional advice: Newly empanelled valuers should comply with the official instructions after independently verifying the payment details, while also obtaining clarity on the applicable empanelment conditions. Existing empanelled valuers should not presume that the new fee applies to them without an express instruction from the Bank.

FINAL OBSERVATION

Bank empanelment is an important professional opportunity for engineers and valuers. However, professionals must understand that empanelment is not merely about getting their names included in a panel. It also involves compliance with the Bank’s prescribed conditions, maintenance of professional records, adherence to valuation standards and maintaining professional independence.

The interests of both the banking institution and the valuation profession are best served through transparent empanelment conditions, clear fee policies, timely communication, and fair allocation of valuation assignments.

Prepared for professional discussion and awareness among Engineers & Valuers.

Source: UCO Bank, Head Office, Credit Monitoring Department, Circular No. HO/CRM/2026-27/1065 dated 05.11.2026. This analysis is based on the contents of the supplied circular and does not independently authenticate the circular or establish any additional Bank policy.