ICICI Bank launches digital tax collection centre in Mangaluru; a first of its kind initiative in Karnataka

March 20, 2019

• Tax payers can now conveniently pay over 20 types of taxes digitally to the municipal corporation
• The facility will benefit one million tax paying households located in the city

Mangaluru: ICICI Bank, in association with Mangaluru City Corporation (MCC), today inaugurated a digital tax collection centre to facilitate digital payment of municipal taxes for the residents of the city of Mangaluru. The new digital tax collection centre has been set up at the Bank’s extension counter at the MCC Ward Office at Valencia.

On this occasion, the Bank intends to place on record its sincere appreciation for the support it has received from Mr. Mohamad Nazeer, Commissioner - Mangaluru City Corporation and Ms. Gayathri Nayak, Deputy Commissioner (Revenue) - Mangaluru City Corporation to launch the service.

With this, tax payers in the city can pay over 20 types of taxes to the MCC at this centre using digital modes of credit and debit card, in addition to cash, cheque and demand draft. These taxes include property tax, water cess and trade license among others. (full list is given in the addendum)

ICICI Bank is the first bank in the state to offer digital mode of tax payment through debit and credit card along with traditional payment modes like cash, cheque and demand draft. The tax collection solution has been customised by the Bank, wherein it has integrated a hand-held, point-of-sale (PoS) with the MCC server - to instantly fetch, accept and update payment data in real-time. This offers tax payers the increased convenience of a one-stop solution to generate e-challans and pay taxes directly to the MCC instantly.

Speaking about the initiative, Mr. Mohamad Nazeer, Commissioner, Mangaluru City Corporation, said, “I am happy that a private sector bank has taken up such an initiative. I am sure you all will be customer friendly and will help customers at all levels and keep them satisfied. The solutions offered seem beneficial to customers of all types.”

Speaking on the occasion, Mr. Viral Rupani, Retail Business Head - South, ICICI Bank, said, “We are delighted to be associated with the Mangaluru City Corporation to extend our digital banking solutions to the residents of Mangaluru. This service will enable one million tax paying entities in the city, to conveniently pay more than 20 types of municipal taxes using credit and debit card. Further, tax payers can save time as they can now generate their e-challan and make payments in a single step process at the Bank’s new digital tax collection centre. Additionally, they can also pay their taxes using cash, cheque or demand draft at any of the Bank’s branches across the city. These services are in line with our endeavour to offer products and services to ensure a smoother banking experience to the users. At ICICI Bank, our philosophy is ‘Ready For You, Ready For Tomorrow’, wherein we are committed to offer innovative products and services to our customers at the fastest possible speed and with the highest level of convenience."

Key highlights:

• One-stop solution for generating challan and making tax payments: : The centre is enabled to generate challans as well as accept tax payments thus providing convenience to tax payers. On successful completion of the payment, ICICI Bank officials update the payment details on ‘e-sweekruthi’, the MCC’s online portal for taxes. The payment update will be visible in real time on the website.
• New digital payment options : Tax payers can pay using credit & debit card, cash, cheque or demand draft at the digital tax collection centre
• Assistance to tax payers : Exclusive team will assist tax payers to make the payments
• Extended timings : The centre will remain open from 9.30 AM to 5:00 PM on Monday to Friday. It will also remain open on the first, third and fifth Saturday of the month from 9.30 AM to 5:00 PM.
• SMS alerts for payment : Upon successful payment of tax, tax payers will get an instant SMS alert

Tax payers can also make tax payments in cash, cheque or demand draft at any of the six branches of the Bank in the city. In that case, prior to the branch visit, they will have to log-in to the website www.mangalorecity.mrc.gov.in to fill in the details of tax payment and generate an e- challan.

ICICI Bank has a network of 290 branches and 1290 ATMs in the state till date.

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About ICICI Bank: ICICI Bank Ltd (BSE: ICICIBANK, NSE: ICICIBANK and NYSE:IBN) is a leading private sector bank in India. The Bank’s consolidated total assets stood at Rs.11,77,498 crore at December 31, 2018. ICICI Bank's subsidiaries include India's leading private sector insurance, asset management and securities brokerage companies, and among the country’s largest private equity firms. It is present across 17 countries, including India.

Certain statements in this release relating to a future period of time (including inter alia concerning our future business plans or growth prospects) are forward-looking statements intended to qualify for the 'safe harbor' under applicable securities laws including the US Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve a number of risks and uncertainties that could cause actual results to differ materially from those in such forward-looking statements. These risks and uncertainties include, but are not limited to statutory and regulatory changes, international economic and business conditions; political or economic instability in the jurisdictions where we have operations, increase in non-performing loans, unanticipated changes in interest rates, foreign exchange rates, equity prices or other rates or prices, our growth and expansion in business, the adequacy of our allowance for credit losses, the actual growth in demand for banking products and services, investment income, cash flow projections, our exposure to market risks, changes in India’s sovereign rating, as well as other risks detailed in the reports filed by us with the United States Securities and Exchange Commission. Any forward-looking statements contained herein are based on assumptions that we believe to be reasonable as of the date of this release. ICICI Bank undertakes no obligation to update forward-looking statements to reflect events or circumstances after the date thereof. Additional risks that could affect our future operating results are more fully described in our filings with the United States Securities and Exchange Commission. These filings are available at www.sec.gov.

Addendum:

List of taxes that can be paid at the digital tax collection centre:

1. Property tax
2. Water Cess
3. Enterprise tax
4. Regularisation/penalties/fines
5. Advertisement tax
6. Building license fees
7. Fees for certificates and extracts
8. Katha extract fees
9. Katha transfer fees
10. Development charges and betterment fees
11. Market fees
12. Road Cutting and restoration charges
13. Trade License
14. Rent receipts
15. Parking fees
16. Solid waste management charges
17. Registration charges
18. Sale of tender forms
19. Sales of stores and scraps
20. Recoveries to ULB
21. Deposits for water supply
22. Water supply and UGD connection charges
23. Water supply and UGD charges