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Punjab National Bank and Stock Holding Corporation join hands for E-Stamping business
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merisarkar news service
New Delhi, November 22, 2010 |
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PNB SHCIL tie up of E-stamping biz
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Punjab National Bank (PNB), the largest nationalized bank and Stock Holding Corporation of India Limited (SHCIL), Central Record Keeping Agency (CRA) appointed by the Government of India for e-stamping of documents, join hands on 19th November, 2010 to do the business of e-stamping in the country.
The e-stamping is an electronic system of paying Non Judicial stamp duty as a secured way of stamping documents. The e-Stamping system is a web based application giving public the convenience of paying stamp duty to the Government without undergoing the hassles associated with the physical stamp paper and also ensures that the stamp duty paid by the public reaches the Government safely through a secure and reliable mode.
The stamp duty amount can be remitted by way of cash, Demand Draft, Pay Order, RTGS and NEFT. Moreover, storage of information in secured electronic form facilitates easy verification about the documents and party who is opting for e-payment. Various State Governments are making it compulsory for e-stamping of documents (e.g. Delhi). Projected turnover of e-stamping in India per year is expected to cross 45,000 crores.
 Rs. 45,000 crore business is expected |
PNB and SHCIL joins to undertake this business at PNB branches designated as Authorized Collection Centers (ACC). The collection will be made at the ACC and a receipt generated with unique number will be handed over to the customer. PNB provides an additional service to its customers through identified branches.
An agreement to this effect has been executed in Delhi in the presence of K.R. Kamath, Chairman & Managing Director (PNB), M.V.Tanksale, Executive Director(PNB), Nagesh Pydah, Executive Director(PNB) and R H Mewawala, Executive Vice President(SHCIL).
S.S.Chopra, General Manager(PNB), Vivek Khurana, Regional Manager(SHCIL) & Amit Dassi, Regional Manager(SHCIL) were also present on the occasion.
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