Federal Bank gets authorisation to collect Direct and Indirect Taxes
Mumbai: 8th October 2021: Federal Bank has been authorised by Reserve Bank of India, basis
recommendation of Controller General of Accounts,
Ministry of Finance, for collection of Direct and Indirect Taxes, on behalf of
CBDT and CBIC.
Federal Bank customers
will soon be able to pay their Direct and Indirect taxes through the
Bank’s various digital platforms like FedMobile (Mobile Banking app), FedNet
(Net Banking), Fedebiz (Corporate Digital Banking) and through wide branch
network.
Commenting on the approval, Harsh Dugar, Group President &
Country Head - Wholesale Banking, Federal Bank said, "We are elated to be empanelled by Government of India and
RBI for collection of Direct and Indirect Taxes. This would make it convenient
for our customers to make tax payments digitally and seamlessly. We also look
forward to working closely with the Government and RBI to offer effective banking
solutions on a strong digital platform. This further enhances our product
basket and our constant endeavour to be the Perfect Banking Partner".
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