RBI authorises KVB to collect direct taxes

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

Following the approval, the bank has initiated the integration process with the CBDT. Once completed, customers of the bank can remit their Direct Taxes through any branch, net banking and DLite Mobile app of the bank.

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."