FinMin launches Central Scrutiny Centre and IEPFA’s Mobile App to leverage digital solutions

New Delhi, March 26: To strengthen the vision of “Digitally Empowered India”, Union Minister for Finance & Corporate Affairs, Nirmala Sitharaman, on Thursday launched Central Scrutiny Centre (CSC) and Investor Education and Protection Fund Authority (IEPFA) Mobile App.

 

 

Launching the new initiative, Sitharaman said, “Digital India is a campaign launched by the Government of India to ensure that the Government's services are made available to citizens electronically by making the country digitally empowered in the field of technology."According to the govt, these two initiatives would create a new corporate and investor-friendly ecosystem.

 

 

 

FinMin further added that the Ministry of Corporate Affairs has been engaged in a continuous journey of digitisation, automation, and improvement, for the good of the society, the corporates, the economy, and the professionals.

 

She also added that around 1.38 lakhs companies have been incorporated as opposed to 1.16 lakh companies last year by Central Registration Centre as of February 2021. Thus, registration has increased by over 17%.

 

 

Besides this, she also talked about the IEPFA Mobile App said, “The Mobile App aims at achieving the goal of financial literacy, spreading investors’ awareness, education, and protection among investors. Our prime goal here is to push Ease of Living.” Sitharaman added that the Mobile App has been developed for citizen engagement and information dissemination to promote awareness among investors.

 

The app comprises the facility to track the status and progress of the IEPF claim refund process. It also provides a mechanism for investors and common citizens to report on suspected fraudulent schemes.

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