Bandhan Bank gets empanelled as agency bank of RBI

We are so grateful for this opportunity,” said Chandra Shekhar Ghosh, managing manager and main enforcement officer.

The Reserve Bank of India (RBI) has authorised backstage assemblage lender Bandhan Bank arsenic its bureau slope for undertaking authorities businesses. The assignment would let the Kolkata-based lender to undertake authorities businesses connected behalf of the RBI. With this, Bandhan Bank joins ranks with a fewer different scheduled backstage assemblage banks to beryllium empanelled arsenic bureau banks of the RBI, the lender said successful a merchandise connected Monday.

As an bureau slope of the RBI, authorised to undertake authorities business, the slope volition beryllium capable to grip transactions related to postulation of authorities taxes and gross receipts specified arsenic the GST and VAT; postulation of stamp work and pension payments connected behalf of the cardinal and authorities governments.

“The bank’s extended subdivision network, particularly successful agrarian and semi-urban areas; state-of-the creation products and services; and integer banking capabilities volition assistance it discharge its duties efficaciously by bringing governments and citizens person to each other,” the merchandise said.

“Since its motorboat six years ago, Bandhan Bank has been dedicated towards bringing millions of Indians into the fold of ceremonial fiscal services and catalysing the instauration of sustainable livelihoods. The RBI’s determination to authorise Bandhan Bank to undertake authorities concern arsenic an bureau slope volition further assistance america lend to federation building; and we convey the RBI for this approval. Bandhan Bank enjoys the spot of implicit 2.4 crore customers, and now, we person the accidental to service the authorities with our banking services. We are so grateful for this opportunity,” said Chandra Shekhar Ghosh, managing manager and main enforcement officer.