Private sector lender IndusInd Bank on Tuesday said that it has been empanelled by the Reserve Bank of India (RBI) as an agency to facilitate transactions related to government businesses.
Head of Consumer Bank at IndusInd Bank, Soumitra Sen said, “We are confident of being a ‘partner of choice’ for the government, its enterprises as well as all other stakeholders in fulfilling their financial aspirations in the most seamless manner.”
As an agency bank, IndusInd bank can now be authorized to handle transactions pertaining to revenue receipts under CBDT, CBIC & GST on behalf of the state/Central government; work related to small savings schemes; collection of stamp duty charges; collection o stamp duty from citizens for franking of documents; collection of state taxes such as professional tax, VAT and state excise on behalf of various state governments.
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