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

SummaryQuotesChartsNewsCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector news 

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
12/02 IDBI BANK : EDII Shortlists 30 Incubatees for its New Incubation Centre CrAdLE
12/02 IDFC BANK : Capital float tie up
11/28 IDBI BANK : Federal announces launch of a next-gen term plan
11/28 IDBI BANK : provides financial assistance under CSR to Directorate of Youth Affa..
11/26 IDBI BANK : Recruiting executives
11/25 IDBI BANK : Set to take possession of sirpur paper mills' assets
11/24 IDBI BANK : hands imported gymnastic equipment to Dipa Karmakar
11/24 IDBI BANK : provides financial assistance under CSR to Directorate of Youth Affa..
11/22 IDBI BANK : launches CASH@POS terminal at the Kolkata Airport
11/22 IDBI BANK : Step to dispense cash at mumbai airport
More news
Sector news : Banks - NEC
03:06aDJBANK OF EAST ASIA : Jointly Won Land-Use Rights for CNY3.02 Billion in China
01:07aDJBANK OF NEW YORK MELLON : Lost Ability to Process Payments for 19 Hours
12/07 Exclusive - U.S. regulator set to fail Wells Fargo on community lending test ..
12/07 Monte dei Paschi asks ECB to extend 5 billion euro rescue plan deadline
12/07DJMERRILL BROKERS GET ULTIMATUM : Refer New Customers or Face a Pay Cut -- Update
More sector news : Banks - NEC
Advertisement
Financials ( INR)
Sales 2017 102 970 M
EBIT 2017 55 245 M
Net income 2017 -993 M
Debt 2017 -
Yield 2017 1,17%
P/E ratio 2017 -
P/E ratio 2018 13,79
Capi. / Sales 2017 1,36x
Capi. / Sales 2018 1,45x
Capitalization 140 514 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
TrendsBearishBearishBearish
Technical analysis
Income Statement Evolution
More Financials
Consensus
Sell
Buy
Mean consensus UNDERPERFORM
Number of Analysts 3
Average target price 58,5  INR
Spread / Average Target -14%
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 LTD-23.69%2 070
JPMORGAN CHASE & CO.26.75%299 465
WELLS FARGO & CO2.19%278 989
INDUSTRIAL AND COML BA..-1.31%231 569
BANK OF AMERICA CORP31.67%223 928
CHINA CONSTRUCTION BAN..-2.25%188 270
More Results