From UPSC perspective, the following things are important :
Prelims level : MCA
Mains level : Digital India
The Ministry of Corporate Affairs (MCA) will launch data analytics-driven MCA21 Version 3.0.
What is MCA 21?
- MCA21 is an e-Governance initiative of Ministry of Corporate Affairs (MCA) that enables easy and secure access of the MCA services to the corporate entities, professionals and citizens of India.
- It is the first Mission Mode e-Governance project of GoI.
Try this PYQ:
Q.Which one of the following is not a feature of Limited Liability Partnership firm?
(a) Partners should be less than 20
(b) Partnership and management need not be separate
(c) Internal governance may be decided by mutual agreement among partners
(d) It is a corporate body with perpetual succession
- MCA21 V3 is a technology-driven forward-looking project, envisioned to strengthen enforcement, promote Ease of Doing Business, enhance the user experience, and facilitate seamless integration and data exchange among Regulators.
- The project will have Micro-services architecture with high scalability and capabilities for advanced analytics.
- It will have additional modules for e-Adjudication, e-Consultation and Compliance Management.
- Aligned with global best practices and aided by emerging technologies such as AI and ML, MCA21 V3 is envisioned to transform the corporate regulatory environment in India.
Components of MCA21 V3
- E-Scrutiny: MCA is in process of setting up a Central Scrutiny Cell which will scrutinise certain Straight Through Process (STP) Forms filed by the corporates on the MCA21 registry and flag the companies for more in-depth scrutiny.
- E-adjudication: E-adjudication module will provide a platform for conducting online hearings with stakeholders and end to end adjudication electronically.
- E-Consultation: To automate and enhance the current process of public consultation on proposed amendments and draft rules etc., e-consultation module of MCA21 v3 will provide an online platform.
- Compliance Management System (CMS): CMS will assist MCA in identifying non-compliant companies/LLPs, issuing e-notices to the said defaulting companies/LLPs etc.