MCA initiatives for making the Incorporation Process Speedy, Smooth, Simple and reducing number of procedures involved

MCA initiatives for making the Incorporation Process Speedy

On the occasion of the 69th Republic Day, the Ministry of Corporate Affairs (MCA) has launched the following Government Process Re-engineering (GPR) initiatives for making the Incorporation Process Speedy, Smooth, Simple and reducing the number of procedures involved for starting a Business.

(i)   Introduction of “RUN–Reserve Unique Name” Web service for name reservation.

(ii)  Zero fee for incorporation of all companies with authorized capital upto Rs.10 lakh.

(iii) Re-engineering the process of allotment of DIN by allotting it through the combined SPICe form only at the time of an individual’s appointment as Director (in case he/she doesn’t have a DIN).

According to the press release issued by the Ministry, the Government is committed to achieve a position in the top 50 countries for “Doing Business” as per the rankings published annually by the World Bank. During the past 3 years. The Ministry of Corporate Affairs has contributed significantly towards improvement of ranking in Ease of Doing Business in the country.

According the the Government above initiatives will significantly enhance the “Ease of Doing Business –Starting a Business” in the Country and benefit a large number of Stakeholders.