IDBI Bank, the public sector lender has mobilised 23% more by way of Direct and Indirect taxes on behalf of the Government in the financial year ended March 31, 2014. The bank’s aggregate collection of direct and indirect taxes was around Rs 195,000 crore, up from Rs 159,000 crore in FY13. The bank’s technology platform allows internet banking facility for pan-India payment of direct taxes, excise duty, service tax and customs duty.
In FY14, the bank had launched online payment of stamp duty and registration fee in Maharashtra. Currently, the bank is authorised to collect commercial tax, government receipts in Assam, Andhra, Bihar, Gujarat, Jharkhand, Haryana, Karnataka, Maharashtra, Punjab, Rajasthan, Sikkim, Tamil Nadu, Uttarakhand, Delhi, Dadra & Nagar Haveli and Puducherry.
IDBI Bank is the youngest, new generation public sector universal bank that rides on a cutting edge Core Banking Information Technology platform. This enables the Bank to offer personalized banking and financial solutions to its clients through its 1,217 branches and 2,101 ATMs.
