No more stamp papers at banks
They Stop Printing After Delays In Implementation Of E-Stamp Project; Pilot Scheme Proves A Success, But Malleswaram Presents Problems
Bangalore: Stamp papers are off banks’ shelves. Nationalized banks that issued stamp papers of smaller denominations have stopped printing the same and will sell only till they exhaust existing stock.
Thanks to the delay in implementation of the much-hyped e-stamping scheme, banks have finally said goodbye to the government. Now, documents can be stamped at sub-registrar offices. Stamp paper vending has been officially stopped by banks from October. According to a communication to the stamps and registration department, there will be no more fresh printing of the papers.
“Banks will not print stamp papers and will clear the stocks. We have made alternative arrangements to supply stamp papers at sub-registrar offices. A stamp certificate will be given for the money deposited which will act as a stamp paper till we introduce e-stamping,” inspector general of registration and commissioner of stamps K R Niranjan told
The Times of India.
After the Telgi stamp paper scam, four banks — State Bank of Mysore, State Bank of India, State Bank of Hyderabad and Corporation Bank — were authorized to sell stamp papers in the denominations of Rs 20, Rs 50 and Rs 100. SBM used to issue a large number of stamp papers. These stamp papers of lesser value are used for writing agreements, affidavits and mortgage deeds.
According to SBM officials, the government had requested the bank to print stamp papers up to March 2009 since the proposed e-stamping had to get rolling. When that did not happen, the bank was asked to continue issuing stamp papers from April to June, which was further extended till September.
The banks need three months to print the papers since it’s a high security risk job.
Sub-registrar offices open separate desks to issue stamp papers, but they’re not the formatprinted ones You take the deed document (agreement or affidavit printed on a white sheet of paper), pay the amount (Rs 20, Rs 50 or Rs 100) and get it stamped An acknowledgement is given and the deed is duly sealed; this makes for a stamp paper The seal is put on the printed document to ensure the stamp paper is not misused Department wants to set up additional estamping counters
Rs 20 denomination stamp papers are most sought after; Rs 100 is revenue grosser From 2008 till date: 2.6 crore sheets of Rs 20 denomination stamp papers sold, Rs 52.04 crore collected; 2.3 crore sheets of Rs 50 stamp paper sold, Rs 118 crore earned; 1.83 crore sheets of Rs 100 stamp paper sold, Rs 183 crore collected
WHERE IS IT AVAILABLE IN THE CITY?
SHCI, J C Road (22995236/46/49) SHCI, Koramangala (25529149/50) SHCI, Jayanagar (26991060/62) SHCI, Malleswaram (23461225/23560525) SRO, Gandhinagar SRO, Shivajinagar SRO, Jayanagar Advocates Association Office, City Civil Court