Federal Bank gets RBI’s go ahead to collect Direct and Indirect Taxes

Federal Bank

Federal Bank has received authorisation from 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.

With this, 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.

Also Read: Federal Bank partners Equirus Wealth to launch its digital investment platform

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 endeavor to be the Perfect Banking Partner”.

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