e–Stamping is a computer based application and a secured electronic way of stamping documents. The prevailing system of physical stamp paper/franking is being replaced by e–Stamping system. The same was introduced in all the APCOB Branches located in the State of Andhra Pradesh.
The bank has obtained permission from State Government of Andhra Pradesh to undertake e–Stamping business as an Authorized Collection Centre to collect stamp duty in the state of Andhra Pradesh vide proceedings no: GSO1/5087/2021 of the Chief Controlling Revenue Authority and Commissioner & Inspector General of Registration and Stamps, Andhra Pradesh dated: 07–September–2021. The Bank has approached SHCIL to act as an ACC and SHCIL requested the Bank to enter an agreement regarding the terms & conditions of e-Stamping business.
On 25–November–2021, the bank has entered into agreement with SHCIL to act as an ACC for e-Stamping business in the state of Andhra Pradesh. After arranging the required Hard ware and Software requirements, e–Stamping business was started in the Bank from May 2022.
DCCBs also offering the e-Stamping services as sub – member to APCOB through their branches. As on 20–October–2023, 5 DCCBs namely Eluru, Kadapa, Kurnool Nellore and Vizianagaram have started issuing non registerable e stamps.
As of 20–October–2023, only non–registerable e stamp documents are issuing by both APCOB and DCCBs. In very short period, registerable e–Stamps & Challans process will also get kick started in both APCOB & DCCBs.