Bandhan Bank, one of the leading private sector banks in India, has been authorized by the West Bengal government to collect tax and non-tax receipts through the Government Receipt Portal System (GRIPS). This will make it easier and convenient for the people of the state to pay their dues online.
What is GRIPS?
GRIPS is an online platform of the West Bengal government that allows various depositors such as traders, entrepreneurs, companies and citizens to make tax and non-tax payments to the state government. It covers 29 different departments and services, such as property tax, motor vehicle tax, professional tax, electricity bill, water bill, etc. The total collection through GRIPS for the financial year 2022-23 was nearly Rs 50,000 crore.
How will Bandhan Bank help?
Bandhan Bank has secured a mandate from the West Bengal government to collect revenue on GRIPS. This means that the bank will integrate with the government portal and enable its customers and non-customers to make their payments through GRIPS using their bank accounts or cards. Bandhan Bank has more than 1700 banking outlets in all districts of West Bengal, which will facilitate the payment process for the people.
Debraj Saha, Head – Government Business, Bandhan Bank said, “West Bengal is one of the top 3 markets for Bandhan Bank. Securing a mandate by Government of WB is a demonstration of the conviction and confidence shown by various state governments and regulators, on the bank. Through this mandate, the bank gets yet another opportunity to serve the people of West Bengal.”
Why is this important?
This initiative will benefit both the government and the people of West Bengal. The government will be able to streamline its revenue collection process and improve its efficiency and transparency. The people will be able to pay their taxes and bills online without any hassle or delay. This will also promote digital payments and financial inclusion in the state.
Bandhan Bank is a leading private sector bank in India with a focus on serving the underbanked and unbanked segments of the society. It offers a range of banking products and services such as accounts, deposits, loans, credit cards, fund transfer, insurance and internet banking. It also has a strong presence in microfinance and community development.
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