Union Bank ties up with Maharashtra for OTC tax collection

Union Bank of India tied up with Maharashtra for over-the-counter (OTC) collection of taxes and receipts.

• The bank has integrated its core banking with the Maharashtra virtual treasury, GRAS (Government Receipt Accounting System), to facilitate OTC tax collection, which will provide one more mode of payment for convenience of tax payers and the state.
• It will give tax payers the convenience of payment at the branch through their account or by cash with online generation of challans and real time updation of records through GRAS.

The state will also be benefited by having a hassle-free revenue collection, daily reconciliation, real-time update of records and providing easy reach to the tax payers.