Chandigarh July 6: Haryana Government has decided to reduce stamp duty from Rs. 2000 to Rs. 100 chargeable on Loan Agreements or Agreement or Memorandum of an Agreement under clause (c) of article 5 of Schedule I-A of the Indian Stamp Act, 1899.

A decision to this regard was taken in the Cabinet meeting met under the chairmanship of Chief Minister, Mr. Manohar Lal here today.

This reduction shall secure the interests of small and marginal farmers, agriculturists as well as those who have availed small loans under Differential Rate of Interest (DRI), vehicles loans, persons willing to avail locker facility and those who seek to avail loans under schemes of marginal loans etc. Thus it will be beneficial for all categories of the society.

The reduced stamp duty shall apply to all loan agreements which are executed by such borrowers in favour of the Banks, Financial Institutions, Financial Development Corporations etc.