E-stamping: growth, opportunities and challenges in India
Journal Title: International Journal of Interdisciplinary and Multidisciplinary Studies (IJIMS) - Year 2014, Vol 1, Issue 7
Abstract
Internet is a powerful medium that can serve as an innovative platform for the growth of financial industry in India. The Indian financial industry is witnessing a revolution. It is not just the metro cities and urban areas that are fueling the online scene in India but the tier 2-3 cities where there is internet penetration but non availability of electronic financial facility is also adding to growth.The growth of internet and other related technologies has enabled a new format called E-stamping to emerge. The e- stamping definition includes using the internet way to pay non judicial Stamp to the government. Estamping is short for electronic stamping and has been active on the internet as early as 2008. G2C (government to consumer) is another way e- stamping is described. The Government of India has mandated the Stock Holding Corporation of India (SHCIL) as central record keeping agency for e-Stamping. The CRA will also appoint authorised collection centres (ACC) & travelling vendor who issue certificate to their clients at their counters. The authorised collection centre would be Bank & Financial institutions, law firms, chartered accountant firms, professionals. E stamping has established itself as a viable option for old traditional stamping. This paper attempts to throw some lights on the growth, opportunities and challenges for e stamping in Indian context.
Authors and Affiliations
Mohd Nasir
Keywords
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