RBI authorises KVB to collect direct taxes

Chennai: Reserve Bank of India has authorised Karur Vysya Bank to collect direct taxes on behalf of Central Board of Direct Taxes (CBDT).

Following the approval received, the bank has initiated the integration process with CBDT. Once completed, customers of the Bank can remit their direct taxes through any branch, net banking and DLite Mobile app of the bank, according to a press note.

B Ramesh Babu, managing director and CEO of the bank said, ‘It has been the long standing requirement of our customers that they should be able to pay their direct taxes through our bank. We are happy that we will be in a position to offer this service to our customers.’


NT Bureau