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RBI named Bandhan Bank as an Agency Bank

Published on November 03, 2021
Current Context: The Bandhan Bank was named as an Agency Bank by the Reserve Bank of India (RBI).
RBI named Bandhan Bank as an Agency Bank
  • By appointing the Bandhan Bank as an agency bank, the bank is allowed to conduct government business.
  • The Bandhan bank has joined the list of several other private banks in the list of agency banks.
  • The bank will now perform works related to GST, VAT, and the collection of state taxes.
  • Other banks entitled as agency banks by RBI are: Dhanlaxmi Bank, South Indian Bank, Karnataka Bank, IndusInd, RBL Bank, DCB Bank.
  • Static Part: 
    • HQ of Bandhan Bank: Kolkata
    • Tagline of Bandhan Bank: Aapka Bhala, Sabki Bhalai

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