Since 2006 the govt has been working on – ‘e-stamping’. It will go into effect soon after the general elections in 2009. The stamps and registration department will stop the issuance/sale of stamp papers through banks.
E-stamping was launched by the state government in 2008 with a pilot at Gandhinagar sub-registrar office which spread to other four SR offices. As an immediate measure after the Telgi scam, the government authorized SBM, SBI, State Bank of Hyderabad and Corporation Bank to issue stamp papers. However, it’s only SBM branches that sees long queues for stamp papers of Rs 20, Rs 50 and Rs 100 denominations as other banks don’t sell the papers.
The aim is also to prevent paper and proces related faudulent practices, leakage of government revenues, store information in electronic form and build a central data bank to facilitate easy verification.
Daily, 4,000 to 5,000 stamp papers are issued in Bangalore SBM branches. In 2008, around Rs 1 crore-worth stamp papers were sold by the bank.
How It Works
- E-stamp certificate has three security features – 2-dimensional barcode, watermark and micro-digiting
- Once certificate is issued, security systems are such that document cannot be copied
- 2-D barcode captures all data and anyone trying to fudge original certificate will only get copies of it which shows on the certificate that is ‘a copy’.
- Vendors who have tied up with Stock Holding Corporation of India can transact e-stamp certificates.