RBL Bank Limited informs the exchange about intimation under Regulation 30 of SEBI Listing Regulations.
RBLBANK · price
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RBL Bank has received a show cause notice from the Maharashtra GST authorities (Assistant Commissioner of State Tax-Mumbai) dated September 29, 2026, proposing a GST demand of Rs. 173.09 crore (including interest and penalty) for FY 2022-23. The demand relates to input tax credit availed by the Bank under a separate GST registration for its Digital Banking business vertical. The Bank plans to submit a response within the prescribed timeline and will contest the matter on merits. Importantly, the Bank cites that it has already received favorable orders from GST authorities on the identical issue for FY 2018-19 and FY 2019-20, giving it confidence to fight the case. Based on this prior track record and its current assessment, the Bank does not expect any material adverse impact on its financial position, operations, or profitability.
At first glance, a Rs. 173 crore demand may appear concerning, but the Bank's prior favorable rulings on the same issue significantly reduce the probability of an actual payout. Shareholders should view this as a routine tax dispute rather than a fundamental risk, though the matter will remain an overhang until formally resolved.