DBS Bank India goes live with direct tax payments
The first wholly owned subsidiary in India to be authorised for direct tax payments for individuals and businesses
Connected journey ensures a seamless, instant digital payments experience that is available 24/7
With the wider adoption of digital infrastructure such as the TIN 2.0 portal, the environment for tax compliance has become more enabling by improving the ease of making payments and reducing the likelihood of operational errors. DBS Bank India will now facilitate direct tax payments through its digital banking platforms: digibank by DBS for retail customers and DBS IDEAL, the online business banking platform for companies of all sizes, ranging from SMEs and mid-sized businesses to large corporates and MNCs. The launch follows the Agency Bank authorisation granted to DBS Bank India by the Reserve Bank of India (RBI), further strengthening the bank’s role in leveraging digital public infrastructure to provide intelligent, intuitive banking solutions.
Tax payments can be made digitally through internet banking or via NEFT/RTGS using DBS digital platforms or completed in person at select DBS branches. Customers can complete statutory tax payments with real-time confirmation, challan generation through the TIN 2.0 system and enhanced visibility of payment status, which is particularly useful for those managing recurring or high-volume tax transactions.
Divyesh Dalal, Managing Director and Country Head – Global Transaction Services, Corporate Banking – Financial Institutions and SMEs, DBS Bank India, said “The authorisation for direct tax payments has strengthened DBS Bank India’s trusted capabilities in transaction banking, payments and digital cash management, enabling us to support customer needs across both indirect and direct tax payments more comprehensively. Integrating with the government’s digital tax infrastructure has allowed us to reduce friction in the payment process, freeing up bandwidth for both individuals and businesses to focus on what matters most to them, in line with our brand ethos ‘Live more, Bank less’.”
DBS has received multiple accolades for its digital leadership and in 2025 was named Best Digital Bank for SMEs in India by Euromoney. In 2025 and 2026, DBS Bank India was also named the Best Bank for Corporate Banking in India by Crisil Coalition Greenwich, underlining its commitment to customers.
About DBS
DBS is a leading financial services group in Asia with a presence in 19 markets. Headquartered and listed in Singapore, DBS is in the three key Asian axes of growth: Greater China, Southeast Asia, and South Asia. The bank's "AA-" and "Aa1" credit ratings are among the highest in the world. In 2025, CRISIL Ratings reaffirmed its ‘CRISIL AAA/Stable’ rating on the corporate credit facility of DBS Bank India Ltd (DBIL). The rating on the certificate of deposits programme was also reaffirmed at ‘CRISIL A1+’.
Recognized for its global leadership, DBS has been named “World’s Best Bank” by Global Finance, “World’s Best Bank” by Euromoney, and “Global Bank of the Year” by The Banker. The bank is at the forefront of leveraging digital technology to shape the future of banking, having been named “World’s Best Digital Bank” by Euromoney and the world’s “Most Innovative in Digital Banking” by The Banker. In addition, DBS has been accorded the “Safest Bank in Asia” award by Global Finance for 17 consecutive years from 2009 to 2025. DBS Bank India was recognized by CRISIL - Coalition Greenwich as the Best Bank for Corporate Banking and Best Bank for Corporate Cash Management in India in 2025. In the same year, Euromoney also named DBS Bank India the Best Digital Bank for SMEs in India.
As a bank born and bred in Asia, DBS understands the intricacies of doing business in the region’s most dynamic markets.
DBS Bank has been present in India for more than 30 years, opening its first office in Mumbai in 1994. DBS Bank India Limited is the first among the large foreign banks in India to start operating as a wholly owned, locally incorporated subsidiary of a leading global bank. As a trusted partner, DBS provides a range of banking services for large, medium, and small enterprises and individual consumers in India, focusing on a seamless customer experience that helps them ‘Live more, Bank less’. In November 2020, Lakshmi Vilas Bank was merged with DBS Bank India Limited. DBS Bank India is now present in ~350 locations in 19 Indian states.
DBS is committed to building lasting relationships with customers, as it banks the Asian way. Through the DBS Foundation, the bank creates impact beyond banking by supporting businesses for impact: enterprises with a double bottom-line of profit and social and/or environmental impact. DBS Foundation also gives back to society in various ways, including equipping underserved communities with future-ready skills and helping them to build food resilience.
With its extensive network of operations in Asia and emphasis on engaging and empowering its staff, DBS presents exciting career opportunities. For more information, please visit www.dbs.com.
Media Contacts:
DBS Bank India Rohini Rego 99305 49207 | Adfactors PR Niharika Saluja 80973 41147 |
DBS Group
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Awards
World's Best Bank 2025, 2018 - 2022
Euromoney, Global Finance, The Banker
Asia’s Safest Bank, 2009 – 2025
Global Finance
