As Per Indian Stamp act each document has prescirbed the stamp duty. Till previous decade the judicial stamps printed at security press were used. But now Govt. has cleared that it is not necessary to use only the spacific amounts judicial stamps for documents thay can use the franking facility for the same In short Franking is a stamp / mark to indicate that the specific amount which is printed on that mark has been paid. In Banking industry the loan documents which the bank takes from the borrower requires a Stamp duty Which is different from document to document as per its type.
Previously when only the judicial stamps were used for the documents borrower/customers has to run to the office of Stamp vendor for purchasing of these Stamps. On many occassions stamps may not be available for specific denomination. Now the facility of franking has overcome the above difficulties. Now the custmer can have the franking of any amount of stamp on his document. This saves his time and expenses. franking the loan documents is now a days a very simple way of paying stamp duty of the goverment.
It’s a very easy and cheaper way for the customers. Now the document is prepared by the bank, signed by the parties after the proper amount of franking. Vishwas Bank provides this franking facility not only to its customer/borrower but also to public in general. Bank Charges a nominal commision for the service offerred.
Rs. 10/- per document will be charged for documents to be franked up to Rs 5000/-.
Franking facility available in Vishwas Bank’s following branch
H.P.T. college road Branch
Timing for franking facility
Monday to Friday – 10.00 a.m. to 6.00 p.m.
First ,Third and Fifth Saturday – 10.00 a.m. to 5.00 p.m.
Second and Forth Saturday and Sunday off