Chief minister N Rangasamy on Wednesday launched the electronic stamping (e-stamping) system basis in Puducherry.

The administration had last month inked an MoU with Stock Holding Corporation of India Limited as part of its initiative to achieve e-governance system in the Union Territory.

An official release said Puducherry has become the 12th State to launch the system, which ensures a secure way of paying non judicial stamp duty to the government.

Although the facility has been introduced now to cover applications of the denomination of Rs 10,000 and above only, the government would remove this and make it without any restriction for all transactions in course of time.

SHCIL has been appointed by the Centre as Central Record Keeping Agency for computerised stamp duty administration system.

Puducherry Dsitrict Registration office handles as much as Rs 100 crore worth of transaction of stamp papers every year.

The release said the facility would be extended to the entire union territory after ascertaining the efficacy of the e stamping now introduced in a few areas of registration authorities for nearly three months

SHCIL and Indian Bank have been associated with the scheme to sell e stamps.