Stock Holding Corporation of India Limited (StockHolding), a key subsidiary of IFCI Limited, has launched its e-Stamping services in Goa, expanding its reach to the 25th State and Union Territory since the service began in 2007.
Entrusted by the Government of India, StockHolding is responsible for the management and implementation of e-Stamping nationwide for property transactions, including purchases, sales, deeds, and rentals.
The e-Stamping service was officially launched by Hon'ble Chief Minister of Goa, Dr. Pramod Sawant in the distinguished presence of Hon'ble Revenue Minister, Govt. of Goa, Shri Atanasio Monserrate.
The event was graced by Hon’ble Chief Secretary of Goa Dr. V. Candavelou, IAS; Hon’ble Revenue Secretary Shri Sandip Jacques, IAS and Shri. Shashikant L. Nayak, Head - e-Services & Government Business, StockHolding.
As a symbolic beginning, the inaugural e-Stamp of ₹500 was issued for an MoU signed between the Government of Goa and Mazagon Dock Shipbuilders Ltd. The occasion was further honored by the presence of several distinguished dignitaries, including Mr. Vivek Khurana, National Head – eServices & Government Business, StockHolding, and Mr. Debraj Ghosh, Regional Manager, StockHolding, among others.
StockHolding is the only Government entity authorized by the Ministry of Finance, Department of Economic Affairs, Government of India to design and operate the Computerized Stamp Duty Administration System (C-SDAS) as the Central Record Keeping Agency (CRA) for the collection of non-judicial stamp duty in India.
The system ensures accuracy, transparency and fraud prevention in stamp duty payments. The e-Stamping service provided by StockHolding offers a digital and efficient alternative to the traditional paper-based and franking systems, enhancing convenience.
The key benefits of this service include safety, security, and the ease of seamless transactions. Safety is ensured through the protection of user information on the digital platform, security is bolstered by the Unique Identification Number (UIN) that reduces the risk of fraud, and the ease of seamless transactions allows users to complete the stamping process efficiently online without the need for physical paperwork.
These developments mark a significant leap toward creating a fully optimized and protected stamp duty payment system in Goa. With the implementation of the Computerized Stamp Duty Administration System, the stamp duty collection process has become more seamless and secure.
The e-Stamping system offers a host of benefits, including a 24x7 online process, faster and more convenient transactions, easy verification, a paperless approach, and flexible denomination options to ensure exact stamp duty payment.
Additionally, its robust security measures make it tamper-proof, protecting sensitive data while also curbing revenue leakages and enhancing overall revenue generation. Shri. Shashikant L. Nayak, Head - e-Services & Government Business, StockHolding said, “StockHolding’s expansion into Goa marks a transformative shift for citizens who previously had to rely on the traditional physical stamping method, requiring visits to sub-offices for property transactions a process that was cumbersome, time-consuming, and vulnerable to fraud.
With the introduction of e-Stamping, StockHolding has significantly enhanced the safety, integrity, and authenticity of stamp duty payments in a seamless and highly convenient manner. Available 24x7, this technology-driven platform ensures transparency while enabling citizens to easily verify their e-Stamp certificates through the website or StockHolding’s e-Stamping mobile application.”
About Stock Holding Corporation of India Limited
StockHolding, a Govt. Company, is India’s premier custodian and depository participant, with its Registered Office in Parel, Mumbai, Maharashtra. StockHolding, the pioneer of financial and capital markets services was established in 1986 as a public limited company and is a subsidiary of IFCI.
StockHolding, renowned for its pioneering role in the e-Stamping business, continues to maintain its leadership in this crucial sector. With the service adopted by 25 State Governments and Union Territories across the country, the company remains at the forefront of this vital industry.
StockHolding is an authorised distributor of Financial products and is also authorised by the Reserve Bank of India as Agency Bank to distribute Govt. of India savings/relief bond 2003 and Sovereign Gold Bonds.