SBI is Income Tax refund bank:

Income tax department has roped in State Bank of India for its ' refund bank ' project. This facility would allow a tax payer to get his returns directly from the bank. The refund banker would credit refund to assessees either in paper form or paperless form through electronic clearing system on an advice by the income tax department. The department will initially roll out the facility on a pilot basis from January 1, 2007 for three months.