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Federal Bank Becomes First Bank To List Payment Gateway On New Tax Platform

Federal Bank Kerala Update : Kerala-based Federal Bank has become...

Federal Bank Kerala Update : Kerala-based Federal Bank has become the first bank to list its ‘Payment Gateway’ platform on the Income Tax Department’s TIN 2.0 platform. ‘Payment Gateway’ is an application which will facilitate online payment process.

This will benefit
TIN 2.0 platform started from 1st July this year. It gives yet another payment option to the taxpayers through ‘Payment Gateway’. With this, they can easily make payment through means like Credit Card, Debit Card, UPI, NEFT, RTGS and Internet Banking.

Better Experience of Digital Banking
Harsh Dugar, Group President and Country Head of Wholesale Banking, Federal Bank, says that the bank is using digital medium for better experience and ease of transactions.

What is the status of digital banking
Let us tell you that in the Union Budget, it was proposed to set up digital banking units of scheduled commercial banks in 75 districts. With this, the benefits of the technology of digital payments, banking and fintech should reach the grassroots level. The unit of a digital bank is treated as a banking outlet similar to a branch.

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