RBI, idbi bank sign agreement on government business
By RBI''s chief general man | 12 Feb 2004
RBI's chief general manager, department of government and bank accounts (DGBA), Probal Sen and idbi bank's managing director G V Nageswara Rao formally signed the agreement.
The Gujarat government's finance department had earlier issued a notification authorising idbi bank to collect ST and professional taxes at its nine branches in the state - four in Ahmedabad and one each at Bhavnagar, Baroda, Navsari, Surat and Vallabh Vidyanagar
With
this, idbi bank brings in the convenience of payment to
thousands of businessess across Gujarat. The Bank will
also offer extended hours for deposits and payments.
Armed
with a Rs 154 crore infusion of fresh capital through
its recent rights issue, the bank has been aggressively
pursuing new business plans by making substantial investments
in technology.