South Indian Bank has been reportedly authorised by the Reserve Bank of India (RBI) to collect direct and indirect taxes on behalf of the Central Board of Direct Taxes (CBDT) and the Central Board of Indirect Taxes & Customs (CBIC).
The Kerala based bank signed an MoU with the CBDT and CBIC for collection of various taxes. The bank was earlier appointed as the Agency Bank of the RBI.
South Indian Bank is considered one of the most proactive banks in India with a competent tech savvy team of professional at the core of services.