SHCIL signs up with IDBI for stamp certificates issue

Mumbai, July 14 (UNI) Stock Holding Corporation of India Limited (SHCIL) has entered into a pan India arrangement with IDBI Bank Limited, one of the largest and leading banks in India, to provide services for issue of stamp certificates and collection of money on its behalf as Authorised Collection Centre.

With a wide network of IDBI Bank Limited, SHCIL will be expanding reach across the States for issue of stamp paper and collection of money where e-Stamping system has been implemented. IDBI Bank Limited is the first bank to have an all India tie-up as an Authorised Collection Centre (ACC) for e-Stamping system with SHCIL. It may be recalled that SHCIL at the initiative of the Government of India is appointed as a Central Record Keeping Agency (CRA) for Computerised Stamp Duty Administration System (CSDAS) and has devised a mechanism for the electronic method of collection of stamp duty.

SHCIL has established e-Stamping system in the States of Gujarat, Karnataka, National Capital Territory of Delhi and is also in the process of implementing e-Stamping system in Maharashtra, where an agreement has been already executed with the State Government. SHCIL has also been working with several other State Governments like Tamil Nadu, Bihar, Uttar Pradesh, Punjab, Haryana and Assam for the introduction of the e-Stamping system according to a release here today.

UNI VK SR AG1523