Electronic money exchange has become one of the catalysts of an E-commerce payment system. With the hype in Online shopping & banking in the Digital world, there is a widespread upsurge in online payment transactions in India.
"As per Statista, nearly 660 million Indians are accustomed to the use of Online Payments that will contribute to approximately 2.2% to the world's digital payment market."
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As times have passed humans have become highly dependent on machines, instead of machines being controlled by humans. Digitalization and technology as a matter of fact have traversed into every sector of the economy and machines have become an essential part of everyone’s life. Going online and being digital is extensively followed by all industries, be it entertainment, medical, hospitality, government services, or even banking! Nowadays, it is said that we carry the bank wherever we take our phone or tab, this is because banks have introduced digital banking for all their services and other customer assistance. The various e-services offered by the banking sector of today are transfers, e-payments, e-stamping also known as a franking, and others. What is franking? Franking is the process of getting important documents stamped, imprinted, embossed, or affixed with stamps, markings, and logos stating that the documents franked are authentic, original, and legal. A franked document also conveys that the stamp-duty and the fee charged has been paid fully and successfully. It is in-general the electronic way of stamping duty provided by banks. Here are the different benefits of franking As computers have made life easier, the internet has made lives even easier. Digital banking has made banking effortless and anytime just at the fingertips. Similarly, stamping has also digitalized and this is called franking and here are the advantages of it- Convenience Franking is a highly convenient way of stamping and authenticating documents as it is electronic and you just need to click a few buttons and a document is franked and ready to be delivered. Speed Franking is in a way digital stamping, as we all know machines are quick at getting things done. Franking too is the quick machined processing is done, that gives out franked/stamped documents in a few minutes. No manual operating This is one task where there is no requirement to keep inkpads and stamps at banks anymore and there is no requirement for the hiring professionals to carry out this menial task anymore. As franking is a machine operated stamping method working on electricity with a digital platform. Fewer expenses As there is a minimal amount of equipment, time and effort put behind the entire process of franking, the expenses incurred to get a document franked are highly affordable and nominal, though the charges vary from bank to bank, they are easy to pay off. Accountability When you get e-stamping done, it also stores the documentation charges in the record so that you can claim full expenses when there is a tax return appeal. This helps in keeping track of postage costs across various departments. Searching for the most professional franking facilities in town? Shree Vinayak Sahakari Bank is has become a notable name, due to its efficient, secure, and highly authentic franking facilities. We offer this facility in the best sense and at the most affordable stamp duty in town. Our team of highly skilled professionals also get you pre-printed stamp papers where the cost is levied on the cost of the papers. When you get franking done from us, all you need to do is just sign the documents and get them registered as stamp duty cleared documents. We provide secure, efficient, and dependable banking services to all sectors and individuals of the economy, be it an entrepreneur or an individual, we are there for you! We are a professional financial institution benchmarking transparency, credibility, and innovation in the financial sector. We also offer special benefits for senior citizens, and also nomination facilities so that all the financial needs and requirements of our consumers are fulfilled. |
AuthorWelcome to Shri Vinayak Sahakari Bank Ltd. Established in 2001 the bank is skillfully managed as a Financial Institution. Archives
February 2021
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