The Reserve Bank of India (RBI) has included the private sector bank CSB in the list of ‘Agency Bank’. This will benefit hundreds of customers of the bank.
The Reserve Bank of India (RBI) has included the private sector bank CSB in the list of ‘Agency Bank’. After being included in this list, CSB Bank will now be able to do the normal banking work of the Central and State Governments.
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CSB Bank head (retail banking) Narendra Dixit said that after being included in the list of RBI, the bank will now be able to tie up with the central and state governments for tasks like tax collection, pension payment, stamp duty collection. With this, the bank will now be able to do transactions related to TDS, Stamp Duty, Registration, Property Tax, GST and Professional Tax.
Hundreds of consumers will benefit
Narendra Dixit said that CSB Bank has 562 branches across the country. After getting this approval from RBI, now hundreds of customers of those branches will be benefitted. They will be able to enjoy all kinds of facilities in this bank. He said that more than 85 percent of the transactions in the bank are done through digital mode. Along with the government, the common people will also get the benefit of this.
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