DBS Bank India has become the first wholly-owned subsidiary in the country to be authorised by the Reserve Bank of India (RBI) as an agency bank for collecting Goods and Services Tax (GST) payments.
The move allows businesses to pay GST directly through the bank’s digital platform, DBS IDEAL, as well as via NEFT, RTGS or over the counter at its branches.
New digital integration
Through DBS IDEAL, enterprises can instantly make GST payments, download advice slips, and track transactions in real time. The platform also provides dedicated client service support to resolve queries and streamline compliance.
The bank said this would help businesses consolidate both commercial and statutory payments on a single platform, while reducing the operational challenges many still face with GST compliance.
Since its launch in 2017, GST has formalised large parts of India’s economy. Registered taxpayers have increased from around 6 million to more than 15 million in 2025. But challenges remain, including fragmented approval workflows, manual challan uploads, and time-consuming reconciliations.
DBS Bank India said its new offering addresses these issues by providing businesses with instant acknowledgements, real-time alerts, and consolidated monitoring of payments, reducing the risk of missed deadlines and penalties.
Bank’s perspective
Divyesh Dalal, Managing Director and Country Head of Global Transaction Services at DBS Bank India, said GST compliance remained a top priority for enterprises.
“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,” Dalal said.
He added the offering reflects the bank’s broader commitment to providing “intelligent, contextual solutions” that support enterprises in managing statutory obligations effectively.
Recognition and awards
DBS Bank India, part of Singapore-headquartered DBS Group, has positioned itself as a digital-first bank in the country.
The lender has been recognised as Asia’s Safest Bank by Global Finance magazine for 16 consecutive years and was named Best Digital Bank for SMEs in India by Euromoney in 2025.
Earlier this year, Crisil Coalition Greenwich also awarded DBS Bank India titles including Best Bank for Corporate Banking (Foreign Bank), Best Bank – Digital for Corporates in India, and Best Bank for Ease of Doing Business.
The authorisation to collect GST marks another step in the bank’s efforts to expand digital offerings for corporate clients and small businesses across India.
