March 6, 2012: IDBI Bank with a strong focus on Government Business in the country collects various direct and indirect taxes of Central Government and State Governments. Within a very short period of becoming a commercial bank (in October 2004), the bank has crossed a major milestone of annual tax/duty collection of Rs.1 lakh crore during the current financial year on February 28, 2012. There has been significant increase in the collection figures over the last couple of years. The Bank’s aggregate collection in 2009-10 was Rs.66,274 crore which grew by 43% to Rs. 95,064 crore in 2010-11. The tax collection is facilitated mostly through e-payment besides physical mode. The bank is authorised for collection of Commercial Tax in the States of Assam, Andhra Pradesh, Bihar, Delhi, Gujarat, Maharashtra, Punjab (Partly), Rajasthan, Uttarakhand and in the Union Territory of Puducherry.
IDBI Bank, riding on cutting edge core banking Information Technology platform, inter-alia, offers 24×7 Internet Banking for facilitating Pan-India payments of Direct Taxes, Excise Duty, Service Tax and Customs Duty, which has enabled itself to be the first choice of many taxpayers.