Stock Holding Corporation of India Ltd. has entered into a pan India arrangement with IDBI Bank Ltd.; one of the largest and leading banks in India; to provide services for issue of stamp certificates and collection of money on its behalf as Authorised Collection Centre.
Stock Holding Corporation of India Ltd. (SHCIL) has entered into a pan India arrangement with IDBI Bank Ltd.; one of the largest and leading banks in India; to provide services for issue of stamp certificates and collection of money on its behalf as Authorised Collection Centre. With a wide network of IDBI Bank Ltd.; SHCIL will be expanding reach across the States for issue of stamp paper and collection of money where e-Stamping system has been implemented. IDBI Bank Ltd. is the first bank to have an all India tie- up as an Authorised Collection Centre (ACC) for e-Stamping system with SHCIL. It may be recalled that SHCIL at the initiative of the Government of India is appointed as a Central Record Keeping Agency (CRA) for Computerised Stamp Duty Administration System (CSDAS) and has devised a mechanism for the electronic method of collection of stamp duty.
E-Stamping is an excellent example of how technology can be used for the benefit of the common people. SHCIL has established e-Stamping system in the States of Gujarat; Karnataka; National Capital Territory of Delhi and is also in the process of implementing e-Stamping system in the State of Maharashtra where an agreement is already executed with the State Government. SHCIL has also been working with several other State Governments like Tamil Nadu; Bihar; Uttar Pradesh; Punjab; Haryana; Assam etc. for the introduction of the e-Stamping system.
Public will get immensely benefited by e-Stamping system as it is convenient; simple; safe; transparent; reliable and cost efficient. Appointment of IDBI Bank Ltd. as ACC will get public closer access to the facility.
Sourced From: Adfactors Public Relations Pvt Ltd
IDBI Bank stock price
On August 20, 2014, IDBI Bank closed at Rs 78.95, down Rs 0.8, or 1 percent. The 52-week high of the share was Rs 116.50 and the 52-week low was Rs 52.30.
The company's trailing 12-month (TTM) EPS was at Rs 5.73 per share as per the quarter ended June 2014. The stock's price-to-earnings (P/E) ratio was 13.78. The latest book value of the company is Rs 147.38 per share. At current value, the price-to-book value of the company is 0.54.
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