Value Added Services

E-stamping : A simplex way to pay stamp duty:

E-STAMPING

E-stamping is a computer based stamp duty collection application. It offers a secure electronic method to stamp documents and prevents leakage of government revenue. The e-stamping system enables the storage of information in a protected electronic form and creates a central data bank for easy verification. With the e-stamping system, the Karnataka State Government and the public can generate online Management Information System (MIS) reports.

The Karnataka State Government introduced the e-stamping system in the state in 2008. The system was launched to tackle and prevent fraudulent practices in stamp paper-based registrations and transactions. The e-stamping system was launched in association with Stock Holding Corporation of India Ltd (SHCIL).

One of the reasons of the state government for launching the e-stamping system in Karnataka was to simplify the process of payment of stamp duty and make it glitch free.

The SHCIL is the central record keeping agency for all e-stamps used in the country. The responsibilities of SHCIL include everything related to the e-stamping project, right from user registration to administration, managing e-stamping application operations and record maintenance. The agency also designates authorized collection centers or ACCs- scheduled banks that can issue certificates to users.

Uses of e-stamps

We being the authorized ACC our customer can avail this service at our 64 selective Branch. e-stamps can be used in regard to all instruments on which stamp duty is payable. Such instruments include all transfer documents such as sale agreement, mortgage deed, conveyance deed, exchange deed, gift deed, power of attorney, agreement of tenancy, deed of partition, lease deeds, leave and license agreement, etc.

Note: if the certificate is misplaced, a duplicate copy cannot be issued. Moreover, if someone wishes to cancel their e-stamp request and want a refund, it has to be done only at SHCIL offices. ACC that issued the certificate cannot offer a refund to the user.

RTGS / NEFT(via AXIS Bank)

RTGS / NEFT:

Quick and Easy Transfer: As a financial institution, we have been offering this service to our all customers since the beginning of this institution. Even the Government explores ways to nudge people towards cashless transactions. Any Customers or Members of our Co-operative can avail this service for their Business or in any urge of ones requirement. With a lowest charge.