RBL Bank empanelled as Agency Bank to conduct government-related business transactions

RBL Bank announced that it has been empanelled by the Reserve Bank of India (RBI) as an eAgency Bankf to conduct banking business for the Central and State Governments.

The authorisation will enable RBL Bank, to handle a broad range of transactions related to government business, such as distributing Subsidies, Pension payments, collecting Central and State taxes including Income Tax, Excise Duties, Customs, GST, Stamp Duty, Registration, State Excise (VAT) and professional tax, in both online and offline modes.

The accreditation comes on the heels of the RBIfs guideline authorising scheduled private sector banks as Agency Banks to carry out specific government]related business transactions. It will allow RBL Bank to offer best]in]class tech]enabled platforms and digital products to government departments and enterprises, thereby making their banking journey convenient and seamless.

 

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