RBI Greenlights DBS Bank India to Collect GST Payments
DBS Bank India has been authorised by the Reserve Bank of India (RBI) as an Agency Bank to collect Goods and Services Tax (GST) payments, making it the only wholly owned subsidiary in India to receive this approval.
Businesses can now make GST payments through its enterprise banking platform DBS IDEAL, via NEFT or RTGS, or over the counter at the bank’s branches.
Customers can instantly download payment advice, track transactions in real time and access dedicated client service support to resolve queries.
The approval is expected to help businesses streamline GST compliance.
Since the introduction of GST in 2017, registered taxpayers have grown from about 6 million to 15.1 million in 2025.
Many businesses still face operational hurdles such as fragmented approval workflows, manual challan uploads and time-consuming reconciliations, as well as delays from multi-level approvals and the lack of real-time alerts or mobile workflows, which can increase operational risk.
DBS Bank India said its platform is designed to ease these challenges by providing instant acknowledgements and a consolidated view of payments.
Divyesh Dalal, Managing Director and Country Head – Global Transaction Services, Corporate Banking – Financial Institutions and SMEs, DBS Bank India, said,
“GST compliance is a key priority for enterprises, and at DBS Bank India we are focused on making the process seamless and efficient.
By integrating GST payments within DBS IDEAL, we now provide businesses with a secure, intuitive platform that delivers real-time visibility, seamless integration, and greater operational efficiency.”
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