E-stamping: Stamp vendors’ job at risk

KOZHIKODE: The recent fake stamp paper bust in Thiruvananthapuram has put the state government in a fix. While there is no option before the Finance Department other than to implement the e-stamping system to prevent  stamp paper fraud, they have to protect around 2,000 stamp vendors who will be rendered jobless if the new system is implemented.
Earlier, the previous LDF government had selected Stock Holding Company of India Limited (SHCIL) as the nodal agency for implementing e-stamping. But further steps were put in cold storage owing to the pressure from the All Kerala Stamp Vendors’ Association. Sources from the Treasury Department said that the e-stamping facility will be implemented soon as the state government was keen to implement it. The officials indicated that the preliminary jobs for implementing the facility is going on and the department is looking for an effective and secure method which could accommodate the existing vendors. A meeting with the officials and Stamp Vendors Association had decided to impart a 15-day training to approved stamp vendors on the eve of implementing e-stamping facility.
“We got assurances from the minister and top officials of the Finance Department that our job will be protected and the new e-stamping system will be implemented by the government through us,” said All Kerala Stamp Vendors Association joint secretary T C Prabhakaran.
E-stamping is a computer-based application and a secured electronic way of stamping documents where fraudulent practices can be prevented. The stamp duty payment and generation of a stamp duty certificate takes not more than three minutes with the new system. With the introduction of e-stamping, the government can save a large amount on account of payment for printing, transportation and other charges, added sources.
“The Finance Ministry has proposed e-stamping facility of all denominations to prevent stamp paper frauds and will be implemented soon in the state, Finance Minister K M Mani told ‘Express’. He added that this was announced in the 2012-13 Budget and would be implemented without affecting the livelihood of the vendors.