With this, the bank became the first scheduled private sector bank To get approval after announcement by Finance Minister Nirmala Sitharaman To allow all banks to participate in government related business.
Post the technological integration, KMBL customers will be able to pay their direct and indirect taxes through KMBL’s mobile banking or net banking platform as well as KMBL’s branch banking network, the bank said in a statement. It will be very easy and convenient.
Joint Managing Director, Kotak Mahindra Bank Dipak Gupta Said: “We are pleased to have obtained the necessary approvals to allow Kotak to collect direct and indirect taxes from the Government, making tax payments more simple, convenient and efficient for our customers. We look forward to a long-term relationship with you, providing a wide range of services backed by our strong technology platform, digital capabilities and customer-first approach.”