RBI sanctioned RBL Bank to collect indirect taxes

RBL Bank has been authorised by the Reserve Bank of India (RBI) to collect indirect taxes on behalf of the Central Board of Indirect Taxes and Customs (CBIC).

Previously, it had only recently been granted permission to collect direct taxes on behalf of the CBDT. The bank can now collect both direct and indirect taxes as a result of this statement.

Following technical integration, RBL Bank’s corporate and individual customers will be able to pay their direct taxes via RBL Bank’s mobile banking or net banking platforms, as well as the branch banking network, resulting in greater comfort and convenience for consumers, according to the statement.

“We are delighted to have been entrusted with this important assignment, which will enable us to expand our portfolio of services and provide our customers with various convenient channels for paying taxes.” This change will undoubtedly help to strengthen our customer-centric strategy. “We look forward to working closely with the Go and the RBI to ensure the smooth deployment of this facility and to offering a wide range of services that redefine banking journeys based on our technical and digital capabilities,” said Parool Seth, RBL Bank’s Head of Financial Institutions and Government Banking.