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Which bank has become the first scheduled private sector bank to receive approval from the Government of India for collection of direct and indirect taxes?
A)
IndusInd Bank
B)
Kotak Mahindra Bank
C)
Bandhan Bank
D)
Federal Bank

Correct Answer :   Kotak Mahindra Bank


The Kotak Mahindra Bank (KMBL) has received approval from the Government of India for collection of direct and indirect taxes, such as income tax, Goods and Services Tax (GST) etc, through its banking network. Following the announcement, the KMBL has become the first scheduled private sector bank to receive permission to take part in government-related business.

Published On : October 8, 2021
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