INSUBCONTINENT EXCLUSIVE:
RBI granted permission to RBL Bank to collect indirect taxes on behalf of the governmentThe Reserve Bank has granted permission to RBL Bank
to collect indirect taxes on behalf of the government, the private sector lender said on Friday
It has already been granted permission to collect direct taxes."RBL Bank has been authorized by the Reserve Bank of India (RBI), based on
recommendation from the Controller General of Accounts, Ministry of Finance and Government of India, to collect indirect taxes on behalf of
the Central Board of Indirect Taxes and Customs (CBIC)," the bank said in a regulatory filing.The bank had recently been authorised to
collect direct taxes on behalf of the Central Board of Direct Taxes (CBDT)
"With this announcement, the bank can now collect direct and indirect taxes," it said.The private sector lender said after technical
integration, its corporate and individual customers will be able to pay their indirect taxes through the bank's mobile banking or net
banking platforms as well as through the branch banking network.
