Integrating Artificial Intelligence System in MCA 21 portal
The Ministry of Corporate Affairs is planning to integrate artificial intelligence (AI) system in the MCA 21 portal as it seeks to make compliance process easier and also to ensure routine enforcement activities are done round-the-clock on autopilot basis. The integration is expected to happen along with the rolling out of version 3 of the MCA 21 portal. Tech giant Infosys is entrusted with the project.
How it will help?
MCA 21 portal allows electronic filings of various documents under Companies Act, 2013. It has fully automated all processes related to enforcement and compliance monitoring under the Act. Integrating with AI systems will
- Rationalise all the forms.
- Will give a thrust to the principle of a single source of truth so that one is not required to fill in known details again since it will get filled automatically.
- Interlinks databases so that routine enforcement is done 24×7 on autopilot basis.
MCA 21 Portal
MCA 21 Portal started in 2006 is a portal through which all the filings are done under the companies law and it allows new businesses to complete registration procedures easily. It serves as an electronic backbone for the dissemination of information to all stakeholders, including the regulator, corporates and investors.