RBI approves Bandhan Bank as ‘agency bank’ to conduct govt biz

Daily Current Affairs / RBI approves Bandhan Bank as ‘agency bank’ to conduct govt biz

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Category : Business and economics Published on: November 05 2021

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The Reserve Bank of India (RBI) has authorised Bandhan Bank as an agency bank for undertaking government business.
With this the bank will be linked with some other scheduled private sector banks which are listed as agency banks of RBI.
Bandhan Bank will now be authorised to handle transactions related to GST, VAT and the collection of state taxes.