South Indian Bank’s corporate and retail customers will now be able to pay customs duty through the it’s internet banking platform ‘SIBerNet’. The facility allows customers to make online payments by selecting South Indian Bank from the list of banks on CBIC’s portal.
The facility was kicked-off with the inauguration of the bank’s e-FPB. The e-FPB will be attached to the bank’s corporate branch in Delhi. Consequently, the bank will collect customs duty on behalf of the CBIC under authorization from the RBI.
Murali Ramakrishnan, MD and CEO of South Indian Bank applauded the achievement by saying, “This milestone achievement opens up a wide spectrum of opportunities for us. The accreditation allows us to enhance convenience for retail customers, small and medium enterprises and large corporates for their government-related banking transactions, taxes and other revenue payment facilities.”