IDBI Bank crosses Rs 1 lakh cr mark in central tax collections in FY13

Last fiscal the bank had collected 1.24 lakh crore in the entire year

IDBI Bank has reached a landmark of Rs 1 lakh crore (total Rs 1.08 lakh crore) in respect of central tax collection for the current fiscal, said a press release issued by the bank on Friday.

At the end of January 31 the bank has surpassed the total tax collection of Rs 1.20 lakh crore, including state taxes, as against Rs 1.24 lakh crore collected in the entire previous year.

The bank went live on January 16, 2012 for payment of customs duty on pan India basis. Considering increased volume of customs duty on regular basis and to provide better services to customers, the bank decided to move to multiple challan mode of payment of custom duty, which has since been launched on January 29.

Under this module, customers would be able to pay upto 25 challans at one go pertaining to any one port. It will not only reduce the time for processing the challans but would also make the payment of customs duty through net banking most convenient for the bank's customers.