Corporation Bank launches E-stamping facility in Udupi

Corporation Bank launches E-stamping facility in Udupi

 Launching the e-stamping programme, Corporation Bank Information Technology Division General Manager B R Bhat said it is possible for the the government to fetch income through e-stamping. Corporation Bank has fetched nearly Rs 30-35 crore income through e-stamping.

Corporation Bank has entered into tie up with Stock Holding Corporation of India and has launched similar programmes in Maharastra, Puducherry, Tamil Nadu and Gujarat. Uttar Pradesh and Rajasthan are yet to give consent for the same. Karnataka has collected about Rs 3,200 crore of stamping fees during the last fiscal year. It has a target of collecting Rs 4,200 this year.

About 80 per cent of the revenue through stamp collection comes from Bangalore, Mangalore, Mysore, Hubli and Hassan, he added.

He said about 25 crore of revenue was collected in Udupi district last year. This year the target is Rs 40 crore. E-stamping is a computer-based application and a secured electronic way of stamping documents. The prevailing system of physical stamp paper is being replaced with this system, which would prevent the paper and process-related fraudulent practices, he said.

It is a secure and reliable collection mechanism and storage of information in electronic form would prevent the fraudulent practices, he said.

As per this system, those intending to buy a stamp paper can remit the eligible stamp duty amount at designated bank branches and get an e-stamp certificate with all the details printed on it. The certificate becomes part of the valid document for the purpose of registration. This ensures credit of legitimate revenue to the government directly without any intermediaries involved. The facility also ensures that there is no shortage of stamp paper.

Sub Registrar M Prameshawar Rao, Stock Holding Corporation of India Area Manager Bhujngesha Kamath, Chief Manager K G Maiyya, Udupi Zonal GM M G Bhandarkar and others were present.

e-Seva services

Corporation Bank launched e-Seva services for Udupi Sri Krishna mutt at Vasanth Mahal on Monday.

The e-Seva facility was launched by Paryaya Shiroor mutt pontiff Sri Laxmivaratheertha Sripada. The devotees can avail the facility to offer services to Lord Krishna. They can select the pattern of the ‘seva’ and also donate money to the mutt through the site. The devotees booking through the site will get an acknowledgement in the form of e-mail to the registered mail ID along with a receipt with reference number.

The devotees can access for offering the e-seva. The payment can also be made through debit/credit cards issued by any Bank. The prasadam for the seva will be directly sent to the devotees by the Temple.

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