RBI authorizes Karur Vysya Bank to collect Indirect Taxes

Karur Vysya Bank (KVB) has been authorised by the Reserve Bank of India for collection of Indirect taxes on behalf of the Central Board of Indirect Taxes and Customs (CBIC).

With this, KVB customers will soon be able to pay their Indirect taxes (GST, Customs Duty and other Indirect Taxes) through Bank's multiple channels.

Shri B Ramesh Babu, Managing Director & CEO of the Bank said, "Once the integration process is completed with CBIC, our customers should be able to pay their indirect taxes through our Bank. We are happy that we will be in a position to offer this service to our customers".

Shares of Karur Vysya Bank Limited was last trading in BSE at Rs. 49.20 as compared to the previous close of Rs. 49.30. The total number of shares traded during the day was 395127 in over 1563 trades.

The stock hit an intraday high of Rs. 50.55 and intraday low of 49.00. The net turnover during the day was Rs. 19692491.00.

Source : Equity Bulls

Keywords

KarurVysyaBank INE036D01028 Banks IndirectTaxCollection RBIapproval