In a step towards modernising high-value import and export transactions in the state, the Maharashtra government has launched an electronic bond system, or ‘E-Bond’, to replace paper-based bonds. The move is part of the state government’s efforts to streamline trade processes and improve ease-of-doing business. Maharashtra has become the 17th state to launch the ‘E-Bond’ system, replacing traditional paper bonds for import-export transactions. The E-Bond system, introduced by Revenue Minister Chandrashekhar Bawankule, allows importers and exporters to complete transactions digitally across all Customs offices in the state. The initiative aligns with the central government’s push for digital governance. Bawankule said the state handles 3,000 to 4,000 bonds monthly, totaling over 50,000 annually. “The E-Bond system will simplify these transactions and set a benchmark for other states,” he added. The system was unveiled at the Mantralaya in Mumbai, with officials including Minister of State for Finance Ashish Jaiswal, Revenue Department Additional Chief Secretary Vikas Kharge, Nhava Sheva Port Commissioner Vijay Rishi and Inspector General of Registration and Stamps Ravindra Binwade in attendance. The E-Bond system eliminates the cumbersome paper-based stamp bonds, streamlining processes and fostering transparency in high-value transactions. Bawankule emphasised the national significance of this reform, stating, “Maharashtra handles approximately 3,000 to 4,000 bonds monthly for import-export activities, totaling over 50,000 annually. The E-Bond system will usher in a digital revolution, simplifying these transactions and setting a benchmark for other states.” He added, “This is not just a state-level reform but a step towards strengthening India’s economic framework, making it more competitive on the global stage.” The E-Bond system enables seamless access to digital bonds across all Customs offices in Maharashtra, drastically reducing processing times for importers and exporters. “By phasing out Rs 500 paper stamp bonds, the initiative will save millions of sheets of paper annually, contributing to India’s sustainability goals and environmental conservation efforts. E-Bonds will enhance transparency in financial transactions, curb revenue leakages, and boost state and national treasuries, supporting India’s fiscal resilience,” an official said. “This initiative reflects the spirit of ‘Viksit Bharat’ (Developed India), where technology and governance converge to empower businesses and drive economic progress,” Bawankule said.
