Maharashtra cabinet today approved Electronic Secure Bank and Treasury Receipt system for stamp duty collection, which will be implemented in addition to the present franking and e-stamping methods.
In the Electronic Secure Bank and Treasury Receipt (eSBTR) system, a person goes to a bank, fills up an application form and makes payment to a designated officer. The officer, after entering the details in online database, issues an eSBTR which acts as a proof of payment and can be used just like a stamp paper.
Franking and e-stamping, which gained prominence following the fake stamp-paper scam involving Abdul Karim Telgi, are vulnerable to duplication, imitation and hacking, an official said.
The use of traditional stamp paper involves high administrative costs and supply chain issues, apart from being vulnerable to fraudulent practices such as use of bogus stamp papers, the official said.