GST could help banks enhance credit monitoring

Mumbai: The new goods and services tax regime is bringing some unintended benefits for banks.

Many lenders, including DCB Bank, ICICI BankBSE 0.13 % and Axis BankBSE -1.32 %, are now offering companies the option of filing their monthly GST returns through their website.

This will help banks enhance their credit appraisal systems, keep track of corporate invoices and cash flows, and also get access to new clients by tapping their suppliers.