It has been reported that public lending bank IDBI bank has collected an amount of 1.95 lakh cr in central taxes. This is 23% more by way of Direct and Indirect taxes on behalf of the Government in the financial year ended March 31, 2014. With the help of technologies internet banking facility pan-India payment of direct taxes, excise duty, service tax and customs duty were made easily.
Last year bank collected nearly 1.59 lakh cr amount as the taxes which is lower than this year’s collection. Currently all government based banks and three private sector banks ICICI bank, Axis Bank and HDFC bank are working as the RBI agents.