IndusInd Bank on Tuesday announced that it has been authorized by the Reserve Bank of India (RBI) for collection of direct and indirect taxes, on behalf of the Central Board of Direct Taxes (CBDT) and the Central Board of Indirect Taxes and Customs (CBIC) ).
“The authorization has been awarded basis a recommendation from the Controller General of Accounts as well as the finance ministry, and comes close on the heels of the Bank being appointed as an ‘Agency Bank’ of the RBI to conduct government business,” IndusInd Bank said in a filing.
With the approval, IndusInd Bank customers can pay their direct and indirect taxes via the Bank’s digital platforms such as ‘Indusnet’ – its net banking platform and ‘IndusMobile’ – its mobile banking application.
Additionally, customers can even walk into their nearest branch to avail this service.
“We are delighted to be authorized by the RBI to facilitate the collection of direct and indirect taxes on behalf of the Government. As a responsible financial entity, this empowers us to offer customers with a comprehensive platform to pay their taxes in a convenient and seamless manner,” Soumitra Sen, head of Consumer Bank, IndusInd Bank, said.
“Backed by the strength of our best-in-class technology channels, we look forward to bringing unparalled value to all our partner stakeholders, in their effort to widen the tax collection network,” Sen said.
On Tuesday, IndusInd Bank’s scrip rose 0.49% to settle at ₹1,179.05 on NSE.
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