South Indian Bank gains on buzz of getting authorised by RBI to collect direct and indirect taxes
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The South Indian Bank is currently trading at Rs. 9.13, up by 0.06 points or 0.66% from its previous closing of Rs. 9.07 on the BSE.
The scrip opened at Rs. 9.15 and has touched a high and low of Rs. 9.24 and Rs. 9.05 respectively. So far 1263189 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 13.95 on 22-Jun-2021 and a 52 week low of Rs. 7.54 on 19-Apr-2021.
Last one week high and low of the scrip stood at Rs. 9.24 and Rs. 9.05 respectively. The current market cap of the company is Rs. 1908.58 crore.
The Institutions and Non-Institutions holding in the company stood at 23.90% and 76.10% respectively.
South Indian Bank has been reportedly authorised by the Reserve Bank of India (RBI) to collect direct and indirect taxes on behalf of the Central Board of Direct Taxes (CBDT) and the Central Board of Indirect Taxes & Customs (CBIC).
The Kerala based bank signed an MoU with the CBDT and CBIC for collection of various taxes. The bank was earlier appointed as the Agency Bank of the RBI.
South Indian Bank is considered one of the most proactive banks in India with a competent tech savvy team of professional at the core of services.
