RBI authorises RBL Bank to collect direct taxes

Our Bureau Updated - November 18, 2021 at 01:55 PM.

A pedestrian wearing a protective mask walks past an RBL Bank Ltd. branch on a near-empty street in Mumbai, India, on Monday, May 4, 2020. India's central bank Governor Shaktikanta Das and the chief executive officers of the nation's banks have discussed ways to ensure credit flow to businesses once the world's toughest stay-at-home order ends. Photographer: Dhiraj Singh/Bloomberg

Private sector lender RBL Bank has been authorised by the Reserve Bank of India to collect direct taxes on behalf of the Central Board of Direct Taxes.

"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," it said in a statement on Thursday.

Parool Seth, Head, Financial Institutions and Government Banking, RBL Bank, said, “We are pleased to be entrusted with this important mandate, which will help us enhance our bouquet of services and open up multiple convenient channels for our customers to pay taxes.”

Published on November 18, 2021 08:25