e-stamping introduced in Mangalore

e-stamping introduced in Mangalore

Mangalore Toay News Network

Mangalore, Feb 16: “The union government plans to introduce e-stamping all over the country,” said B R Bhat, the general manager of Corporation Bank, during a programme organized to launch e-stamping at the main branch of the Corporation Bank in Mangalore. 

The GM informed that the state government has collected Rs 3,400 crore through stamp duty during the last fiscal year alone, adding that the government plans to collect Rs 4,200 this year. 

Around 80 percent of the government’s stamp duty revenue is generated in Bangalore, Mangalore, Hubli, and Hassan, informed Mr. Bhat. The target for Udupi this fiscal year is Rs 40 crore. 

Speaking about the benefits of e-stamping, Mr. Bhat said that it is a secure and reliable system because all the important data will be stored in digital format. This goes a long way in preventing fraud. He encouraged people to use this facility, which has already been launched in Mangalore and Bangalore. People can avail of e-stamping from Tuesday. 

M G Bhandarkar, the zone head of the bank, made the welcome speech. 

M Parameshwar Rao, the first grade sub-registrar of Udupi district, and K Bhujangesha Kamath, the area manager of the Stock Holding Corporation of India, also participated in the programme.