The Maharashtra government on Friday rolled out an electronic bond, or 'e-bond', system for import and export transactions, replacing traditional stamp paper bonds , officials said. The move is aimed at simplifying trade procedures , accelerating business operations, and modernising the state’s economy.
Revenue Minister Chandrashekhar Bawankule said Maharashtra has become the 16th state in India to adopt the e-bond system, PTI reported.
"Currently, 3,000 to 4,000 bonds are issued every month for import-export operations, amounting to over 40,000 annually. The introduction of e-bonds will bring a major transformation. Though it may appear small, this is a turning point for Maharashtra's economy," he said.
The e-bond system is expected to make obtaining trade bonds faster and simpler, eliminate the need for Rs 500 stamp papers, promote environmental conservation, enhance transparency in financial transactions, prevent revenue leakage, and boost state revenues, the minister added.
Bawankule noted that leveraging digital technology in governance would help Maharashtra climb higher in the ‘ease of doing business’ rankings. The move is part of broader efforts to modernise trade processes and strengthen the state’s economic infrastructure.
Revenue Minister Chandrashekhar Bawankule said Maharashtra has become the 16th state in India to adopt the e-bond system, PTI reported.
"Currently, 3,000 to 4,000 bonds are issued every month for import-export operations, amounting to over 40,000 annually. The introduction of e-bonds will bring a major transformation. Though it may appear small, this is a turning point for Maharashtra's economy," he said.
The e-bond system is expected to make obtaining trade bonds faster and simpler, eliminate the need for Rs 500 stamp papers, promote environmental conservation, enhance transparency in financial transactions, prevent revenue leakage, and boost state revenues, the minister added.
Bawankule noted that leveraging digital technology in governance would help Maharashtra climb higher in the ‘ease of doing business’ rankings. The move is part of broader efforts to modernise trade processes and strengthen the state’s economic infrastructure.
You may also like
Cold Weather Payments start date and eligibility confirmed
Zubeen Garg death: Assam CM slams Cong, Raijor Dal for demanding transfer of probe to CBI
Husband stabs wife in Northeast Delhi, accused arrested; weapons recovered
Modi praises Trump's role in Gaza peace efforts, vows India's strong support for just resolution
7 Fruits that are rich in Potassium
