Online PPF Subscription Facility from IDBI Bank
IDBI Bank limited, a new generation PSU Bank, has successfully launched ‘Online PPF Subscription Facility’ for its customers in the month of February, 2013. The Bank had earlier got permission from Government of India for operationalising PPF transactions through Internet banking. The newly introduced facility would be highly convenient and user friendly to the customers which inter alia aims at fulfilling Government of India’s initiative of electronic transactions in Banking Services as well as providing a good platform in mobilizing funds through its Small Savings Schemes.
PPF account holders of IDBI Bank would now have the benefit of accessing their PPF account online and through Internet banking, they would be in a position to view their PPF account details, print statement of accounts and also make subscription to PPF by way of online transfer of funds from the savings bank accounts. The present annual PPF subscription ceiling of Rs.1,00,000/- may be made in a single or in multiple installment(s) not exceeding twelve in a Financial Year.
IDBI Bank, riding on cutting edge core banking information technology platform, offers 24×7 internet banking facility for pan India payments of direct taxes, excise duty, service tax and customs duty which has enabled itself to be the first choice of many taxpayers.
Few Facts 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 banking and financial solutions to its clients through its 1036 branches and 1630 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 during 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.