Maharashtra Government's "eSBTR" (electronic Secured Bank and Treasury Receipt) project, an initiative of the Department of Registration and Stamps, has won the Financial Inclusion and Payment Systems "FIPS 2013 Award".
The award, given in the "Payment Systems" category, was presented by Union Minister of State for Finance Jesudasu Seelam to Dr Sanjay Kolte, Joint Inspector General of Registration and Superintendent of Stamps.
The award was presented at the Global Conference on Financial Inclusion and Payment Systems at New Delhi on October 25, a senior government official said.
The conference was attended by important functionaries from nationalised and private sector banks, financial institutions, NGOs and corporates, the official said.
The eSBTR system for payment of stamp duty, registration fees and other charges is being implemented by the Department of Registration and Stamps in Maharashtra from July 26, 2013.
The salient objective of this System is to provide a better method of collection of stamp duty and registration fees, which is more secure, integrated with the facility of online payment, with proper inventory management and without losing appeal of the stamp paper to the citizens, he said.
The uniqueness of this system is evident from the fact that security and durability of the traditional stamp paper and convenience of e-payment have been brought together in this concept. Thus, facility of online payment has been made available to get physical stamp paper-like eSBTR.
