Advance Tax collection in Mumbai region up 10.4%; banks perform poorly

State Bank paid a whopping 37 per cent less, foreign lender Citigroup also paid 34 per cent less

A steep fall in advance tax payouts by bad loan-saddled state-run banks has led to a muted 10.6 per cent growth in overall revenue mop-up from large corporates in the megapolis in the September quarter.

The overall mop-up at Rs 69,000 crore, up 10.64 per cent, is tepid even though other sectors like steel and even private sector lenders have done comparatively well, income tax department sources said today.

Unsatisfied with the collection, the department has asked its officials to keep a close