Revised Rates of Stamp Duty in Karnataka Circle w.e.f. 06/02/2024

Stamping of Security Documents

Amendments to the Karnataka Stamp Act, 1957 w.e.f 06-02-2024

With reference to the captioned matter, this is for the information of all Branches that the Karnataka Stamp Act has been amended w.e.f 06-02-2024. In this regard, the following table contains the new rates of Stamp Duty applicable to instruments usually taken by the Bank.

Nature of Document (with Article No.)

1. Agreements (5())

2. Indemnity Bonds [29 r/w 47(b)]

3. Bank Guarantee [Old Article: 50); Article: 561

If there is any discrepancy found in the actual stamp duty charges and the rate mentioned above, kindly intimate to Legal Department ZO.

The stamps to be affixed on Promissory Notes, Bill of Exchange, Letter of Credit, Bill of Lading, Insurance Policy, Receipts, etc. are governed by the Indian Stamp Act and all other by Karnataka Stamp Act.

	Nature of Document (with Article No.)	Old Stamp Duty	New Stamp Duty
1.	Agreements [5 (j)]	₹.200/- (Rupees Two Hundred)	₹.500/- (Rupees Five Hundred)
2.	Indemnity Bonds [29 r/w 47(b)]	₹.200/- (Rupees Two Hundred)	₹.500/- (Rupees Five Hundred)
3.	Bank Guarantee [Old Article: 5(j); New Article: 56]	₹.200/-(Rupees Two Hundred)	(i) ₹.300/- (Rupees Three Hundred)
	(i) if relating to paper bank guarantee (ii) if relating to e-bank guarantee		(ii) ₹.200/-(Rupees Two Hundred)
4.	Hypothecation Agreement [34(d)]	Upto 10.00 Lacs 0.1% of Loan amount	0.5% of Loan Amount
		Above 10.00 Lacs 0.2% of Loan amount (maximum 10.00 Lacs)	0.5% of Loan Amount
5.	General Power of Attorney [41]		₹ 1,000/- (Rupees One Thousand)
5.	Special Power of Attorney [41]	₹.100/-(Rupees One Hundred)	₹.500/- (Rupees Five Hundred)
6.	Letter of Guarantee [Article 31 r/w 5(j)]	₹.200/-(Rupees Two Hundred)	₹.500/- (Rupees Five Hundred)
7	Affidavit [4]	₹.20.00 (Rupees Twenty)	₹.100/- (Rupees Five Hundred)
8	Tripartite Agreement (builder, borrower & bank) [5(j) r/w 41 & 29 r/w 47(b)]	₹.500/-(Rupees Five Hundred)	₹.1,500/- (Rupees One Thousand Five Hundred)
9	MODT/EQM [6(1)]	Upto 10.00 Lacs 0,1% of Loan amount. (minimum ₹.500	Upto 10.00 Lacs 0.5% of Loan amount. (minimum ₹.500
		Above 10.00 Lacs 0.2% of Loan amount (maximum 10.00	Above 10.00 Lacs 0.5% of Loan or Debt amount
		Lacs)
10	Registered Legal Mortgage CHA 4 [34(b)]	0.5% percent of Loan amount.	0.5% percent of Loan amount.