DBS Bank India has been authorised by the Reserve Bank of India (RBI) as an Agency Bank to collect Goods and Services Tax (GST) payments — making it the only wholly- owned subsidiary in India to receive this approval from the RBI.

DBS Bank India will now enable customers to instantly effect GST payments using its digital banking platform for enterprises, DBS IDEAL. On this platform, customers can instantly download GST payment advice, receive real-time transaction status updates, and resolve related queries through dedicated client service support. In addition to IDEAL-based payments, customers can also make GST payments through NEFT/RTGS or over the counter at the bank’s branches, depending on their preference. This offering will not only enable customers to consolidate all commercial and statutory payments but also streamline GST compliance through a robust digital banking platform.

Since its launch in 2017, GST has significantly formalised India’s economy, with registered taxpayers increasing from 60 lakh to around 1.51 crore in 20251. However, many businesses still face operational challenges, including fragmented approval workflows, manual challan uploads, and time-intensive reconciliations. Delays caused by multi-level approvals and the absence of real-time alerts or mobile workflows can result in last-minute processing and heightened operational risk. DBS Bank India is addressing these pain points by offering a seamless, convenient, and secure payment experience for enterprises.

Divyesh Dalal, Managing Director and Country Head – Global Transaction Services, Corporate Banking – Financial Institutions and SMEs, DBS Bank India, said, “GST compliance is a key priority for enterprises, and at DBS Bank India we are focused on making the process seamless and efficient. 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.”

Also Read: GST 2.0: Why Middle Class Must Invest Before Festive Buys 

DBS Bank India streamlines GST payments for businesses through its intuitive digital banking platform. Customers benefit from instant payment acknowledgements, real-time transaction tracking, and a consolidated view of all GST payments, enabling proactive monitoring and reducing the risk of missed deadlines and penalties. By offering greater accuracy, transparency, visibility, and control, the bank empowers businesses to meet their GST obligations.

DBS has been recognised as Asia’s Safest Bank by Global Finance for 16 consecutive years (2009– 2024). It has also received accolades for its digital leadership and was named Best Digital Bank for SMEs in India by Euromoney in 2025. In 2025, DBS Bank India was also named the Best Bank for Corporate Banking (Foreign Bank), Best Bank - Digital for Corporates in India, Best Bank - Ease of Doing Business for Corporates in India, and Best Bank - KYC Processes & Support for Corporates in India by Crisil Coalition Greenwich.