Chandigarh, Jun 1 (IANS): In a remarkable decision to bring far more efficiency and check the pilferage of state revenue, the Punjab government on Wednesday announced to abolish the physical stamp papers.

The stamp paper of any denomination can now be obtained via e-stamp i.e. computerised print-out from any stamp vendor or from banks authorised by the government.

After launching the facility, Punjab Revenue Minister Bram Shanker Jimpa said earlier the e-stamping facility was applicable only to value of above Rs 20,000. "We are extending this facility to stamp papers for all denominations starting from Re 1," he said.

The decision taken by the government will at least save Rs 35 crore annually, which was incurred on printing of stamp papers, besides facilitating the public to obtain stamp papers in a hassle-free manner.

He said most of the time the public had to face difficulty in getting the stamp paper when it was not available with the stamp vendor or had to purchase at higher prices.

The minister said the government will pay a commission of two per cent to the stamp vendors on e-stamps ranging from Re 1 to Rs 19,999, while the public would get stamp paper at actual rate, for instance, they will have to pay only Rs 100 for stamp paper of Rs 100 and no extra commission will be levied.

This step will also help in curbing the stamp paper-linked frauds, he added.

Secretary Revenue Manvesh Singh Sidhu said this facility has been started with the help of National e-Governance Services Ltd. With the launch of the facility, the people will have no need to go anywhere and they can avail these facilities in banks.