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. With this approval, DBS Bank India becomes the only wholly-owned subsidiary in India to be entrusted with this responsibility, further strengthening its position as a trusted banking partner for businesses.
Enterprises can now make GST payments seamlessly through DBS’s digital banking platform, DBS IDEAL, which provides instant payment acknowledgments, downloadable GST advice, real-time transaction tracking, and dedicated client service support.
In addition to IDEAL-based payments, businesses also have the option to pay via NEFT/RTGS or over the counter at DBS Bank branches, offering flexibility and convenience. This capability enables companies to consolidate commercial and statutory payments while streamlining GST compliance.
Since the rollout of GST in 2017, India’s taxpayer base has grown from 60 lakh to approximately 1.51 crore in 2025, according to GST Council data. However, businesses continue to face challenges such as fragmented approval workflows, manual challan uploads, and time-intensive reconciliations.
DBS Bank India aims to address these pain points by delivering an efficient, secure, and transparent GST payment experience through its robust digital infrastructure.
“GST compliance is a key priority for enterprises, and at DBS Bank India we are focused on making the process seamless and efficient,” said Divyesh Dalal, Managing Director and Country Head – Global Transaction Services, Corporate Banking – Financial Institutions and SMEs, DBS Bank India.
“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,” he added.
DBS Bank India’s initiative reinforces its leadership in digital innovation. Customers will benefit from enhanced accuracy, transparency, and control, reducing the risk of missed deadlines and penalties, while gaining a consolidated view of their statutory payments.
The recognition comes alongside DBS’s growing reputation for digital leadership and operational excellence. The bank has been named Asia’s Safest Bank by Global Finance for 16 consecutive years (2009–2024) and was recently recognised as Best Digital Bank for SMEs in India by Euromoney (2025).
In the same year, Crisil Coalition Greenwich named DBS Bank India the Best Bank for Corporate Banking (Foreign Bank) and Best Bank – Digital for Corporates in India, among other accolades.
Send news announcements/press releases to:
info@b2bmarketmedia.com
