Union Bank of India has launched Electronic Secured Bank Treasury Receipt (e-SBTR ), a facility for a single window payment facility of both stamp duty and registration fee for home purchase in Maharashtra. The e-SBTR allows payment without any ceiling and is available on 24x7x365 through internet banking. The facility makes it possible to do the necessary paper work and formalities on line and get the endorsement of the final document at the branch level at one go. Some 508 branches of the bank in Maharashtra will be offering the service and the bank intends to expand it to other states as well. The facility is also being offered by other banks such as Punjab National Bank, State Bank of India and Bank of India, among others.
