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RBL Bank authorised by RBI to Collect Direct Taxes
Direct Tax Collection
Image: Wikimedia Commons

RBL Bank authorised by RBI to Collect Direct Taxes

| @indiablooms | 18 Nov 2021, 04:07 pm

Mumbai/IBNS: RBL Bank has been authorised by the Reserve Bank of India (RBI), based on a recommendation from the Controller General of Accounts, Ministry of Finance and Government of India (GoI), to collect direct taxes on behalf of the Central Board of Direct Taxes (CBDT).

After technical integration, RBL Bank’s corporate and individual customers will be able to pay their direct taxes through RBL Bank’s mobile banking or net banking platforms as well as through the branch banking network, resulting in ease and convenience for customers, the private sector lender said in a statement.

Parool Seth – Head – Financial Institutions and Government Banking, RBL Bank, said, “We look forward to working closely with the GoI and the RBI for the smooth deployment of this facility and offering a wide range of services that redefine banking journeys based on our technical and digital capabilities.”

RBL Bank offers services under five business verticals namely: Corporate & Institutional Banking, Commercial Banking, Branch & Business Banking, Retail Assets and Treasury and Financial Markets Operations.

Currently, it has over 9.97 million customers through a network of 445 branches, 1,435 business correspondent branches (of which 271 banking outlets) and 386 ATMs spread across 28 Indian states and Union Territories, the bank said.

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