Home Stamp collecting RBL Bank has established itself as a bank branch to carry out government-related commercial transactions

RBL Bank has established itself as a bank branch to carry out government-related commercial transactions

0


RBL Bank announced that it has been commissioned by the Reserve Bank of India (RBI) as eAgency Bankf to conduct banking activities for central and state governments.

The authorization will allow RBL Bank to manage a wide range of transactions related to government affairs, such as the distribution of grants, pension payments, the collection of central and national taxes, including income tax, excise duties, customs, GST, stamp duty, registration, state excise. (VAT) and business tax, in online and offline mode.

The accreditation follows the RBIf directive authorizing private sector banks programmed as agency banks to conduct specific government-related business transactions.

This will enable RBL Bank to deliver the best technology-enabled digital platforms and products]to government departments and businesses, making their banking journey convenient and transparent.

Powered by Capital Market – Live News

(This story was not edited by Business Standard staff and is auto-generated from a syndicated feed.)

Dear reader,

Business Standard has always strived to provide up-to-date information and commentary on developments that matter to you and have broader political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering has only strengthened our resolve and commitment to these ideals. Even in these difficult times resulting from Covid-19, we remain committed to keeping you informed and updated with credible news, authoritative views and cutting edge commentary on relevant current issues.
However, we have a demand.

As we fight the economic impact of the pandemic, we need your support even more so that we can continue to provide you with more quality content. Our subscription model has received an encouraging response from many of you who have subscribed to our online content. More subscriptions to our online content can only help us achieve the goals of providing you with even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practice the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital editor