DBS Bank India Becomes First Wholly-Owned Subsidiary to Collect GST Payment After RBI Approval; Know Benefits

A leading name in digital and corporate banking, DBS Bank India has received authorisation from the Reserve Bank of India (RBI) to act as an Agency Bank for the collection of Goods and Services Tax (GST) payments. This makes DBS Bank India the only wholly-owned subsidiary in India to receive such approval.

DBS Bank India Becomes First Wholly-Owned Subsidiary, Gets RBI Nod To Receive GST Payments

With this development, DBS Bank India will now allow customers to make instant GST payments through its enterprise-focused digital banking platform, DBS IDEAL. This platform enables customers to instantly download GST payment advice, receive real-time transaction status updates, and resolve related queries through dedicated client service support.

How It Will Benefit To DBS Bank India Customers?

Apart from IDEAL-based payments, customers also have the option to make GST payments via NEFT/RTGS or over-the-counter at DBS Bank branches, offering greater convenience and flexibility. This offering allows customers to consolidate all commercial and statutory payments in one place, significantly streamlining GST compliance using DBS's robust digital infrastructure.

Since the launch of GST in 2017, India has seen a sharp increase in formalisation of its economy, with registered taxpayers rising from 60 lakh to around 1.51 crore in 2025. However, operational challenges remain. Many businesses still grapple with fragmented approval workflows, manual challan uploads, and time-intensive reconciliations. Delays due to multi-level approvals, coupled with the lack of real-time alerts or mobile workflows, often lead to last-minute processing and higher operational risk.

DBS Bank India aims to solve these issues by providing a seamless, secure, and intuitive payment experience for enterprises. By integrating GST payments into its digital platform, the bank is tackling common bottlenecks and easing statutory compliance burdens for its clients.

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. This offering reflects our commitment to providing intelligent, contextual solutions that help enterprises manage their statutory obligations effectively."

With this integration, customers benefit from instant payment acknowledgements, real-time transaction tracking, and a consolidated view of all GST payments. This proactive monitoring reduces the risk of missed deadlines and penalties, while enhancing accuracy, transparency and control.

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