Artificial intelligence system in MCA 21 portal
*Govt plans introducing artificial intelligence system in MCA 21 portal*
Corporate affairs ministry plans to introduce artificial intelligence system in the MCA 21 portal as it seeks to make compliance process easier as well as ensure routine enforcement activities are done round-the-clock on autopilot basis.
MCA 21 is the electronic backbone for dissemination of information to all stakeholders, including the regulator, corporates and investors. All filings under the companies law are submitted to the ministry through this portal.
It will look to rationalise all the forms, follow the principle of single source of truth so that one is not required to fill in known details again (as it will get filled automatically) and also interlink databases, so that routine enforcement is done 24×7 on autopilot basis.