DBS Bank India has been authorized by the Reserve Bank of India (RBI) to collect Goods and Services Tax (GST) payments as an Agency Bank. This makes it the only wholly-owned subsidiary in India to receive this approval. With this authorization, DBS Bank India will enable customers to make GST payments through its digital banking platform, DBS IDEAL, as well as through NEFT/RTGS or over-the-counter at its branches.
The DBS IDEAL platform will provide customers with instant GST payment advice, real-time transaction status updates, and dedicated client service support. This will help businesses consolidate all commercial and statutory payments and streamline GST compliance. Since the launch of GST in 2017, India’s economy has formalized significantly, with the number of registered taxpayers increasing from 60 lakh to around 1.51 crore in 2025. However, many businesses still face operational challenges, including fragmented approval workflows and manual challan uploads.
DBS Bank India is addressing these pain points by offering a seamless, convenient, and secure payment experience for enterprises. The bank’s digital banking platform will provide businesses with a secure and intuitive platform that delivers real-time visibility, seamless integration, and greater operational efficiency. Customers will benefit from instant payment acknowledgments, real-time transaction tracking, and a consolidated view of all GST payments, enabling proactive monitoring and reducing the risk of missed deadlines and penalties.
Divyesh Dalal, Managing Director and Country Head of Global Transaction Services at DBS Bank India, stated that the bank is focused on making GST compliance seamless and efficient for enterprises. The bank’s commitment to providing intelligent, contextual solutions has earned it recognition as Asia’s Safest Bank by Global Finance for 16 consecutive years. DBS Bank India has also received accolades for its digital leadership, including being named Best Digital Bank for SMEs in India by Euromoney in 2025.
The bank’s authorization to collect GST payments is expected to streamline the process for businesses, providing them with greater accuracy, transparency, visibility, and control. With its robust digital banking platform, DBS Bank India is empowering businesses to meet their GST obligations efficiently and effectively. The bank’s efforts to simplify GST compliance are in line with its commitment to providing innovative and customer-centric solutions to its clients. Overall, DBS Bank India’s authorization to collect GST payments is a significant development that is expected to benefit businesses and contribute to the country’s economic growth.