Hyderabad: e-stamps system introduced by the Dept. of Registration and Stamps is yielding positive results. The Dept. has so far collected Rs. 6, 100 crores.
From 2nd October, the e-pay system would be implemented in the SBI along with online and offline payment through challans. With the implementation of this process, the cases of tampering and misuse of challans and other irregularities have come to an end. SBI is getting ready to launch e-payment system from 2nd October. Preparations have already been completed to start offline payment system through challans. Bank officials say that with the introduction of the offline payment system, the transactions would be completed in few seconds.
It may be mentioned that the Dept. of Registrations and Stamps had introduced e-stamp system with effect from 11th April this year in order to eradicate irregularities in payments pertaining to registration charges, user charges, charges on account of the transfer of properties etc. With the abolition of manual payment through challans, the chances of tampering have been done away with.
Amounts deposited in any branch of SBI would be immediately known to 141 offices of the Registration Department.
Earlier, frauds incurred due to the tampering of challans. There was no system for the registration offices to counter check the amounts entered into the banks. Before the introduction of e-stamp system, online payments were only 3% which has been now been increased to 20%.