DBS Bank India authorised as Agency Bank for GST payments Enables real-time and frictionless GST payments for businesses
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 2025[1]. 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.”
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.
[1] As per data from the GST council
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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.
Recognised 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 16 consecutive years from 2009 to 2024. In 2025, DBS Bank India was recognised by CRISIL - Coalition Greenwich as the Best Bank for Corporate Banking and Best Bank for Corporate Cash Management in India. Euromoney also named DBS Bank India the Best Digital Bank for SMEs in India in 2025.
DBS provides a full range of services in consumer, SME and corporate banking. 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 provides a full range of services in consumer, SME and corporate banking. As a bank born and bred in Asia, DBS understands the intricacies of doing business in the region’s most dynamic markets.
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 uplifting lives and livelihoods of those in need. It provides essential needs to the underprivileged, and fosters inclusion by equipping the underserved with financial and digital literacy skills. It also nurtures innovative social enterprises that create positive impact. 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 Kashni Kadakia 9820562269 |