In a release, the bank said that this recognition by the RBI will give it an opportunity to offer best technology-based platform and digital products to government departments and enterprises.
The central bank RBI has given recognition to RBL Bank for banking transactions of the central and state governments. On Wednesday, RBL Bank gave information about this. It was told on behalf of the bank that RBI i.e. Reserve Bank of India has given it recognition to act as an agency bank for banking transactions of governments. Also Read: Note Of 2 Rupees Can Get Up To 1 Lakh, Know how
In a release, RBL Bank said that with this recognition by RBI, it will give an opportunity to government departments and enterprises to offer best technology based platform and digital products. After getting the approval of the central bank, RBL Bank will now be able to handle a wide range of transactions related to government business. Also Read: Aadhaar Card: Is your Aadhaar real or fake, find out like this sitting at home
In fact, RBL Bank has got this recognition after the new guidelines of RBI, in which it has authorized scheduled private sector banks to conduct government related business transactions as agency banks.
After getting permission from RBI, RBL Bank will now carry on the business of collecting Central and State Taxes including disbursement of subsidy, payment of pension, Income Tax, Excise Duty, Custom Duty, GST, Stamp Duty, Registration, State Excise Duty (VAT) and Professional Tax. will be able to.
What will be the effect on the common people? Beneficiaries of government schemes, gas subsidy members, elderly or women with old age or widow pension, beneficiaries of any other central or state government schemes can now open their accounts in this bank as well. The amount of the scheme or subsidy will also be available in the accounts opened in this bank. If you already have an account in this bank, then you can also give the account number of this bank while applying for any government scheme.
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