IDBI Bank crosses Rs.1 lakh crore mark in Central Tax Collections in FY 2011-12 Collects over 16% of the Government’s revised target for Direct Taxes

IDBI Bank has achieved the landmark of Rs. 1 lakh crore in respect of collection of Central Taxes during the FY 2011-12. The Bank's present collection of  Direct Taxes has been over 16% of the Government’s revised target for Direct Taxes.

The Bank had gone live on January 16, 2012 in providing online duty payment services in respect of Customs Duty for all the 103 EDI locations across the country. With this development, Taxpayers are now in a position to route all of their Central Taxes and Duties payments through IDBI Bank, making the Bank an important Agent in their pursuit of partnering the Government of India in pushing online payments and enhancing the tax contribution to the Exchequer.

IDBI Bank, with a strong focus on Government Business has been engaged in the collection of various Direct and Indirect Taxes of the Central Government and various State Governments. IDBI Bank has also put in place state-of-the-art Technology Platform which is serving towards achieving the Government's dual objective of improvement of tax collection efficiency and e-governance.