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Stamp duty going digital is like demat of shares: NeSL MD & CEO S Ramann

NeSL has set up a secured digital document execution (DDE) platform which will facilitate MSMEs and individuals to avail contactless loans on remote basis, says S Ramann

Topics
Indian Economy | Bank loans | paperless

Subhomoy Bhattacharjee  |  New Delhi 

The Union finance ministry has advised state governments that as banks adopt a mass scale of paperless transactions from this month for all their loans for retail and micro as well as small and medium enterprise (MSME) customers, the stamp duty regime in all states have to go digital. As a result, small-ticket loans can expand massively with the paperless documents being treated as valid legal documents.

The entity, which will interface with states and banks is the National e-Governance Services (NeSL), promoted by leading banks and has the status of a government company. At an interaction ...

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First Published: Mon, September 07 2020. 06:05 IST
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