Page 7 - Banking Finance September 2022

BANK UPDATE

NHAI, banks have asked the highways under Tin 2.0 platform of Income Tax The official told that the five bankers
authority to revert to the earlier inter- Department. selected are ICICI Securities, Axis Capi-
change PMF of 1.50% to make the tal, Citigroup Global Markets, HDFC
operations of FASTag service sustain- DBS Bank India reports Rs. Bank and IIFL Securities.
able. The Department of Investment and
167-crore FY22 profit
Public Asset Management (DIPAM) had
DBS Bank India reported a profit after
IDFC First Bank, Yes Bank, in early July invited bids from merchant
tax of Rs 167 crore in 2021-22, with bankers for managing Hindustan Zinc
other mark Spicejet loans firm performance in corporate and
Ltd (HZL) residual stake and set July 28
as high-risk retail banking segments leading to an as the deadline for putting bids.
11 per cent on-year rise in net rev-
IDFC First Bank, Yes Bank and Indian
enues, the lender said.
Bank have put their loans to SpiceJet
Attention Subscribers
Ltd in the high-risk category, the lat- The bank, which is a wholly-owned
Please renew your Subscription of
est setback for the airline, people with subsidiary of DBS Bank, acknowledged
Banking Finance Journal to receive
knowledge of the matter said. the lagged effects of its amalgamation
with Lakshmi Vilas Bank on its net copy of the journal uninterruptedly.
The lenders are concerned about
profit. You can now pay by GPAY, Phonepe,
SpiceJet's cash flows and have held dis-
cussions seeking assurances from the "FY22 PAT (profit after tax) stood at Rs Paytm, Amazon, ICICI Pay, BHIM UPI
Indian budget carrier as it is behind on 167 crore despite the increased annual
payments to some aircraft lessors, the pre-tax drag from the erstwhile
sources said. Lakshmi Vilas Bank at Rs 669 crore in
FY22 compared to Rs 341 crore in
Federal Bank, CBDT join FY21, where the impact was only for
four months," DBS Bank said.
hands for online tax pay-
After being put under a 30-day mora-
ment services torium by the Reserve Bank of India,
Federal Bank has partnered with the Lakshmi Vilas Bank was merged with
Central Board of Direct Taxes to assist DBS Bank India in November 2020.
taxpayers pay through the e-pay tax
facility in the e-filing portal.
Five bankers to manage
Anyone can now pay taxes instantly
govt's HZL stake sale
through modes such as Debit/Credit
ICICI Securities, Axis Capital and
Card, UPI, Net banking, cash, NEFT/
Citigroup Global Markets are among
RTGS etc. The NRIs, domestic custom-
the five investment bankers selected
ers and any tax-paying citizen can gen-
to manage the sale of the
erate tax challan and make payments
government's 29.53 per cent residual
through the bank's branches.
stake in Hindustan Zinc Ltd, an official
The Bank had received approval from
said.
the Centre for direct tax collection last You can also make payment for
Also, HDFC Bank and IIFL Securities will purchase of Books/Exam Guides
financial year and made effective since
act as investment bankers and work from www.sashipublications.com
July 1. In a first, there is no require-
with the government and handle the through above QR Code
ment of PAN/TAN registration/verifica-
share sale offers, the official said.
tion for taxpayers and it takes away For any query please call
any delay in payment of tax. With this As many as 6 merchant bankers had 9073791022/9883398055
partnership, Federal Bank becomes made a presentation before the gov-
www.sashipublications.com
one of the pioneers to be registered ernment officials on August 12.
BANKING FINANCE | SEPTEMBER | 2022 | 7