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Dhanlaxmi Bank signs MoU with CBDT

April 22, 2022

Dhanlaxmi Bank signs MoU with CBDT
Dhanlaxmi Bank on Thursday said it has signed a memorandum of understanding with Central Board of Direct Taxes (CBDT) and Central Board of Indirect Taxes and Customs (CBIC) for the collection of taxes. The bank has been authorized by the Reserve Bank of India (RBI) based on the recommendation from the controller General of Accounts for the collection of various taxes, Dhanlaxmi Bank said in a regulatory filing.

With this, customers will soon be able to pay their direct taxes and GST payments, and other indirect taxes through the branch network and digital platforms of the bank, it said.
 
The technical integration required to implement the seamless flow of remittance from the bank’s portal to that of CBDT and CBIC will be completed at the earliest to give early access to its clients towards the facilities. In October, the bank had been empanelled as ‘Agency Bank’ by RBI to embrace general banking businesses of central and state government for RBI.
 
It is to be noticed that RBI had 2020 appointed its General Manager D K Kashyap as the leading body of the bank for a long time. The central bank ordinarily doesn’t appoint its nominee on the boards of private banks unless there are exceptional circumstances to avoid any conflict of interest.
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