Sunday, 21 February 2016

Applicant - Friendly with E-Stamping

In a bid to computerize the revenue department for removing malpractices in registrations in the state, Punjab government has launched an e-stamping project. 

Applicant - Friendly with E-Stamping
Inaugurated by Deputy Chief Minister Sukhbir Singh Badal and Revenue Minister Bikram Singh Majithia in January 2015, this unique e-stamping and e-registration project is a people-friendly initiative to remove malpractices in the process of land buying/selling. It will put a stop on the unnecessary hassles and harassment faced by the applicants. This surely is a step towards safe and secure revenue transactions in the state. Though this e-stamping project was initiated as a pilot project in five districts of Mohali, Amritsar, Jalandhar, Ludhiana and Bathinda, but it is proposed to cover all the districts by the new financial year 2015-16. 

With this initiative, efficiency and transparency will be maintained in the working of the Revenue department as the department will be able to do online reconciliation of its transactions on a daily basis. 

All government to government interactions and government to consumer services will be computerized. 

People will now be able to deposit the stamp paper fee at a number of branches of various banks near their place of work or residence. 

The stamp papers, which were earlier available through one bank, would now be available through all 22 recognized banks and thousands of their branches in the state, which allow people to deposit the stamp papers in any branch near them. 

Besides, people will be able to deposit the exact fee in stark contrast to being forced to buy stamps of more denomination than needed due to lack of availability and creation of artificial scarcity.

People will be saved from the hassles of procuring stamps from the middlemen as they can now deposit the stamp fee through a wire transfer, a draft or even a cheque. No extra cost will be charged for this facility. In fact the public will get some relief as they will no longer have to pay commission charges to the bank responsible for issuing stamp papers. 

This is a welcome change amidst endless procedure of procuring safe and secure stamp papers. Now with e-stamping, each stamp paper will have a unique ID, which will be generated for that stamp paper only and its verification can be done too. Various safety features including ultra- violet, micro-film and thermal fixtures besides an encrypted 2-D bar code have also been incorporated, making the new paper a permanent record. Hence, the secure electronic system to stamp documents besides electronic payment of stamp duty will end leakage of government revenue.

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