IndusInd Bank gets authorized by RBI to collect Direct and Indirect Taxes
By Pinkerala News Desk | Oct 13, 2021
Mumbai, October 12, 2021: IndusInd Bank today announced, that it has been authorized by the Reserve Bank of India (RBI) for the 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 Ministry of Finance (Govt. of India) and comes close on the heels of the Bank being appointed as an ‘Agency Bank’ of the RBI to conduct government business.
With this, IndusInd Bank customers will soon be able to pay their Direct and Indirect taxes through the Bank’s state-of-the-art 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.
Speaking on the development, Mr. Soumitra Sen, Head – Consumer Bank, IndusInd Bank said, “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 a comprehensive platform to pay their taxes in a convenient and seamless manner. Backed by the strength of our best-in-class technology channels, we look forward to bringing unparalleled value to all our partner stakeholders, in their effort to widen the tax collection network.”
About IndusInd Bank
IndusInd Bank, which commenced operations in 1994, caters to the needs of both consumer and corporate customers. Its technology platform supports multi-channel delivery capabilities. As of June 30, 2021, IndusInd Bank has Branches of 2,015/ Banking Outlet and 2,870 ATMs spread across 760 geographical locations of the country. The Bank also has representative offices in London, Dubai, and Abu Dhabi. The Bank believes in driving its business through technology. It enjoys clearing bank status for both major stock exchanges - BSE and NSE - and major commodity exchanges in the country, including MCX, NCDEX, and NMCE. IndusInd Bank was included in the NIFTY 50 benchmark index on April 1, 2013.
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- IND AA for Additional Tier I Bonds program by India Ratings and Research
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Visit us at www.indusind.com
For more details on this release, please contact:
IndusInd Bank Ltd.
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