Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

4-Traders Homepage  >  Equities  >  NATIONAL STOCK EXCHANGE OF INDIA  >  IDBI Bank Ltd    IDBI   INE008A01015

SummaryQuotesChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector newsTweets 

IDBI Bank Limited : IDBI Bank Reaches about Rs.1.60 lakh crore mark in Tax Collections in FY 2012-13

share with twitter share with LinkedIn share with facebook
share via e-mail
0
04/08/2013 | 02:38pm CET
For Immediate Publication / Broadcast / Telecast

PR/1203

IDBI Bank Reaches about Rs.1.60 lakh crore mark in

Tax Collections in FY 2012-13

Mumbai, April 8, 2013: IDBI Bank Ltd. with a strong focus on Government Business has been engaged in the collection of Direct and Indirect Taxes of the Central Government and various State Governments. The Bank made an aggregate collection of Rs.1.59 lakh crore in Central and State Taxes during FY 2012 -13 registering an impressive growth of 28% over the previous year. Estimated tax collections of Central Government amount to Rs.10.35 lakh crore, of which Direct taxes are Rs.5.66 lakh crore and Indirect Rs.4.69 lakh crore. IDBI Bank's share in Direct and Indirect Taxes has reached 16% and 11%, respectively. In aggregate, the Bank has crossed Rs.1.42 lakh crore (13.7%) in Central Tax collection. While Direct tax collection has increased by 8%, Indirect tax collection has witnessed robust growth of 88% over last year's collection.

During the year, the Bank had introduced multiple challan payment facility for customs duty through a single e-payment transaction which is a landmark achievement, providing tremendous ease in transactions for tax payers. Accordingly, customs duty mobilisation witnessed a quan tum jump from Rs.6,956 crore in FY 2011-12 to Rs.22,092 crore in FY 2012-13, indicating robust growth of 217%.
As regards the State-level taxes, d uring the current financial year, the Bank has operationalised collection of commercial taxes in the states of Karnataka, Sikkim, Jharkhand and West Bengal. Thus the Bank is now a uthorised for collection of Commercial Tax in 14 States/UTs that include Assam, Andhra Pradesh, Bihar, Jharkhand, Karnataka, Gujarat, Maharashtra, Punjab, Rajasthan, Sikkim, Uttarakhand, West Bengal and UTs of Delhi and Puducherry. The VAT/CST collection from above states/UTs was Rs.16,198 crore as against last year 's collection of Rs.12,125 crore, reflecting a growth of 34%. The Bank is in discussions with other states for their tax collections also.
The Bank has been leveraging its robust technology platform for tax collections through Straight Through Processes (STP). The Bank has thus been facilitating growing tax collections, in a hassle-free manner, and thus complementing the e-governance initiative of Government of India.

About IDBI Bank

IDBI Bank is the youngest, new generation, public sector universal bank that rides on a cutting edge
core banking Information Technology platform. This enables the Bank to offer personalized ban king and financial solutions to its clients through its 10 77 branches and 1 706 ATMs. The Bank had an aggregate balance sheet size of about Rs.2,75,000 crore and total business of about Rs.3,60,000 crore as on December 31, 2012. IDBI Bank's operations durin g the 9 month period ended December 31, 2012 resulted in a net profit of Rs. 1328 crore. The Bank 's operations during the last full financial year (2011-
12) had yielded a net profit of Rs.2032 crore.

All representatives of Print, Wire and Electronic Media

distributed by
share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on IDBI BANK LTD
03/24 INDIAN OVERSEAS BANK : Reserve Bank puts 4 banks under the lens
03/22 IDBI BANK : appoints Mahesh Kumar Jain as MD and CEO
03/21 IDBI BANK : Appoints Mahesh Kumar Jain As CEO
03/18 Banking & Financials Newsletter – March 13 to March 17, 2017
03/18 Indian bank and idbi set to swap their top `assets'
03/17 IDBI BANK : GoI plans to interchange CEOs of IDBI Bank and Indian Bank
03/16 Can't recover funds, abg lenders hunt for buyers
03/08 Brookfield in talks to acquire jaiprakash's three power plants
03/03 BANKS DEFER ESSAR STEEL DEBT RECAST, TO TAKE Rs44,000 CRORE HIT
03/02 IDBI BANK : Acquirs 32.30 crore shares in jpvl
More news
Sector news : Banks - NEC
03/24DJRegulators Give Passing Grade to 'Living Wills' for Regional Banks -- 2nd Upd..
03/24DJRegulators Give Passing Grade to 'Living Wills' for Regional Banks -- Update
03/24DJRegulators Give Passing Grade to 'Living Wills' for Regional Banks
03/24DJCHINA MERCHANTS BANK : 2016 Net Profit Up 7.6% to CNY62.08 Billion
03/24 BARCLAYS : Barry Meyers to rejoin JPMorgan after almost two years at Barclays
More sector news : Banks - NEC
Advertisement
Financials ( INR)
Sales 2017 116 254 M
EBIT 2017 58 324 M
Net income 2017 16 206 M
Debt 2017 -
Yield 2017 -
P/E ratio 2017 9,52
P/E ratio 2018 9,17
Capi. / Sales 2017 1,33x
Capi. / Sales 2018 1,53x
Capitalization 154 823 M
More Financials
Chart IDBI BANK LTD
Duration : Period :
IDBI Bank Ltd Technical Analysis Chart | IDBI | INE008A01015 | 4-Traders
Full-screen chart
Technical analysis trends IDBI BANK LTD
Short TermMid-TermLong Term
TrendsBearishBullishBullish
Technical analysis
Income Statement Evolution
More Financials
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 2
Average target price 73,8  INR
Spread / Average Target -1,9%
Consensus details
EPS Revisions
More Estimates Revisions
Managers
NameTitle
Kishore Piraji Kharat CEO, Whole Time Director & MD
Padma Vinod Betai Chief Financial Officer
Bal Krishan Batra Whole Time Director & Deputy MD
Sethurathnam Ravi Independent Director
Ninad Bhalchandra Karpe Independent Director
More about the company
Sector and Competitors
1st jan.Capitalization (M$)
IDBI BANK LTD8.78%2 366
JPMORGAN CHASE & CO.1.27%312 154
WELLS FARGO & CO0.25%276 464
INDUSTRIAL AND COMMRCL..5.90%240 225
BANK OF AMERICA CORP4.39%230 976
CHINA CONSTRUCTION BAN..7.35%205 760
More Results