SN Jayaram, IAS, IGR and Commissioner of Stamps Launches 'First e-stamp'

Syndicate Bank has signed Memorandum of Agreement with Stock Holding Corporation of India Ltd., for e-stamp vending across the country.
Stock Holding Corporation of India Limited (SHCIL) is the Central Record Keeping Agency (CRA) appointed by the Government of India for the e-stamp project.

Initially e-Stamp vending will be undertaken by our Bank in the State of Karnataka at 200 identified branches in a phased manner. e-Stamp will be available at the following branches in Bangalore/Karnataka that have been operationalised.

Bangalore Branches: 1. BWSSB Branch (Avenue Road) 2. Koramangala Main ( near BDA complex) 3. Mallewswaram 18th Cross 4. Yelahanka New Town 5. Martahalli 6. Kengeri Satellite Town 7. Tilak Nagar 8.RPC Layout. Totally Forty branches of SyndicateBank are marked for e-stamp vending in Bangalore.Other e-stamp Branches in Karnataka 1. Bellary Main 2. Bijapur Basaveshwar Road 3. Belgaum Main 4. Hubli Main 5. Karwar Main 6. Mysore V.V Mohalla 7. Udupi Kunjibettu 8. Kundapur 9. Mangalore Kadri .The public can now purchase Stamp Papers from our above designated branches.

e-Stamping is all set to replace conventional stamp papers. The Karnataka Government has stopped selling stamp paper as a retail article. Hence, to cater to the requirements of stamp papers, Inspector General of Registration & Commissioner of Stamps, Government of Karnataka has introduced e-Stamp project in Karnataka.

Sri.S.N.Jayaram,IAS -IGR and Commissioner of Stamps Chief Guest for the event issued the first e-Stamp. Sri.K.Devananda Upadhyaya, General Manager, SyndicateBank Marketing Department, Corporate Office, Bangalore and Sri.G.Ramanathan General Manager SyndicateBank, Regional office, Bangalore graced the occasion.

Link : http://www.syndicatebank.in/scripts/PressReports.aspx

SN.Jayaram, IGR and Commissioner of Stamp, Beware: Your stamp paper could be fake

                                                                              

S N Jayaram, IG, Registration and Commissioner of Stamps, said,  "Agents buy stamp papers from Sub-registers offices, photocopy them, forge signature, seal and sell them at two or three times the price". 

There is no shortage of stamp papers. Why should people fabricate them? We have given out e-stamping franchise to banks and post offices.
 
Hundreds of transactions, ranging from sale deeds, rental agreements and name change to court affidavits take place in Bangalore every day but they may not be worth the value of the paper they are printed on. This is because fake stamp papers of all denominations are doing a thriving business in Bangalore.

Following the Rs 33,000 cr Telgi scam, stamp papers are legally produced in franking machines and sold only at 15 sub-registrars’ offices. Stamp papers can also be obtained from nationalised banks, post offices and a few sub-registrar offices through e-stamping. E-stamped papers are largely tamper-proof as they have distinct holograms.

The stamp papers produced by franking machines are duplicated on a scandalous scale. Agents buy stamp papers from sub-registrars’ offices, then get them colour photocopied in bulk and fix forged signatures and seals on them. These are then sold at two or three times their original price at various court complexes.
 
It’s an "Organised racket" which involves notaries, advocates and agents and is an open secret at the sub-registrar’s offices. “The government has put one Telgi behind bars. Now, we have hundreds of Telgis operating. In several departmental meetings, we have complained to higher-ups that our system has a loophole,’’ a senior sub-registrar said.

We realised how prevalent the scam is when we purchased two stamp papers — a Rs 20 denomination and a Rs 50 denomination — from the court premises at Mayo Hall. The deal was clinched by an advocate called Nagaraj. An agent standing near the parking stand with a bundled plastic cover fished out stamp papers of various denominations.

We paid Rs 60 for the Rs 20 stamp paper and Rs 90 for the Rs 50 stamp paper. In a sub-registrar office it would have cost not more than an additional Rs 10 (Rs 5 is service charge for any denomination paper) for both.

Stamp papers from franking machines are available at SR offices. We have 45 machines in the state. but yet people are 
not willing to take the stress of following even the easy procedure, I will look into the issue, assured Mr Jayaram
 

SN Jayaram IAS, Apex Bank aims at 14% growth in deposit base

Karnataka State Cooperative Apex Bank is planning to increase its deposit base by 14 per cent to Rs 5,150 crore in the present financial year as compared to Rs 4,479 crore in the last fiscal.
The bank is also planning to disburse Rs 4,096 crore of agricultural credit during this fiscal, of this Rs 1,950 crore has already been disbursed in the first five months of the present fiscal.

“We are hopeful that both our credit and deposit target will be achieved this year on the back of an encouraging response from customers,” S N Jayaram, managing director, The Karnataka State Co-operative Apex Bank, said on the sidelines of the 85th annual general body meeting here.

He also said that the bank was planning to open nine new branches in the city during present fiscal.
The apex cooperative bank has 31 branches in the city and has received approval from the RBI to open another nine branches. “The capital expenditure for opening these branches will be in the range of Rs 2 crore,” he added. The bank will also float tender to shift overall banking operation to core banking mode in the near future. “The expenditure for rolling out core banking will be around Rs 2-3 crore in the present fiscal,” he said.

Link : http://www.business-standard.com/article/finance/apex-bank-aims-at-14-growth-in-deposit-base-110092100035_1.html

SN Jayaram, IAS Receives National Award

MEGA CORP

National Award for Karnataka State Apex Co-op Bank. The Karnataka State Apex Co-operative Bank has been adjudged as 3rd best performing co-op bank by the National Federation of State Co-operative Banks (NAFSCOB). Apex Bank MD, S N Jayaram(left) received the award from RBI Dy. Governor, Dr. K C Chakrabarthy. The awards were presented last week at New Delhi at the National Consultation Review Meet and Presentation of Best Performance Awards function organized by NAFSCOB

SN Jayaram, MD Apex Bank - Vaidyanathan Committee recommendation Accepted

The State has accepted the recommendations of the Vaidyanathan Committee report, and the Centre has released Rs. 753 crore to the State for restructuring short-term loans, said S.N. Jayaram, managing director, Karnataka State Cooperative Apex Bank, here on Monday.

Funds would be released through the National Bank for Agriculture and Rural Development (NABARD).
Speaking to The Hindu, Mr. Jayaram, who was in Hassan to present a vision document prepared by the cooperative apex bank, said that according to the report, weaker financial institutions would be given a one-time financial impetus.

With this, many of the primary agriculture cooperative societies and District Central Cooperative (DCC) Banks would become financially more viable. He said 12 lakh farmers would benefit under the short-term credit structure, and the repayment would be more than 90 per cent.
The total working capital of all the banks and cooperative societies under the cooperative apex bank is Rs. 20,000 crore.

The cooperative banks were doing an excellent job in financing self-help groups (SHGs), he said. So far, the banks had financed 1.92 lakh SHGs with an outlay of Rs. 1,104 crore. The plan was to cover 4.7 lakh SHGs with an outlay of Rs. 5,000 crore by 2014-15, he said.