Centre launches first phase of MCA21 Version 3.0

The government on Monday, launched the first phase of the latest update to its digital corporate compliance portal, MCA21 Version 3.0, with features including a revamped website and e-book facilities, according to an official statement.

ET had first reported on the two-phased launch of MCA21 V3 in its April 13 edition.

“While the revamped website will refresh the user experience with enhanced look and feel, the e-book will provide easy access to the updated legislations along with a tracking mechanism for historical changes in law,” said Anurag Thakur, minister of state for finance, during the virtual launch.

The updated portal will include an e-consultation module that will enable virtual public consultation of proposed amendments to legislation by the ministry of corporate affairs.

The module will make use of artificial intelligence for compiling and categorizing comments from stakeholders and create analytical reports for quick policy decision-making, the ministry said.

“Data analytics-driven MCA21 V3 will give new meaning to corporate compliance culture and will further enhance the trust and confidence in the Corporate regulatory and governance system,” said Rajesh Verma, secretary of corporate affairs, during the virtual event.

The revamped website will reduce the requirement of attachments, make forms web-based and strengthen the pre-fill mechanism in various forms, Verma added.

The update will also include a new email service for MCA officers with features for managed communication with internal and external stakeholders, the statement said.

The second phase of MCA21 V3, to be launched from October onwards, will see functionalities like e-adjudication, compliance management system, advanced helpdesk, user dashboards, self-reporting tools and revamped master data services.

MCA21 has been one of the mission mode projects of the government, with Version 3.0 being part of the budget 2021-22 announcements earlier in February.

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