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This Republic Day the Ministry of Corporate Affairs will initiate Government Process Re-engineering for starting new businesses. An official statement said these initiatives are aimed at making the incorporation process of new businesses speedy, smooth, simple and to reduce the number of procedures involved for starting a business.
These include the introduction of 'RUN – Reserve Unique Name' Web service for name reservation, that will be launched on January 26. A Zero fee for incorporation of all companies with authorised capital of up to Rs 10 lakh will also be started. The process of allotment of DIN through the combined SPICe form at the time of an individual’s appointment as Director (in case he/ she doesn’t have a DIN) will also be enabled.
It is expected that the above initiatives will significantly enhance the “Ease of Doing Business – Starting a Business” in the country and benefit a large number of stakeholders, the statement added.
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