The government on Wednesday announced to set up DigiLockers for the micro, small and medium enterprises (MSMEs), large businesses and charitable trusts.
Fintech services in India have already been facilitated by the digital public infrastructure including Aadhaar, PM Jan Dhan Yojana, Video KYC, India Stack and Unified Payments Interface (UPI).
"To enable more Fintech innovative services, the scope of documents available in DigiLocker for individuals will be expanded," said Finance Minister Nirmala Sitharaman.
"An Entity DigiLocker will be set up for use by MSMEs, large business and charitable trusts. This will be towards storing and sharing documents online securely, whenever needed, with various authorities, regulators, banks and other business entities," she said.
A one stop solution for reconciliation and updating of identity and address of individuals maintained by various government agencies, regulators and regulated entities will be established using DigiLocker service and Aadhaar as foundational identity, said the government.
"The introduction of Entity DigiLocker for business enterprises will facilitate online storing of documents which will accelerate the digital transformation of the country," said V. Srinivasan, Chairman, eMudhra.
DigiLocker is a flagship initiative of the Ministry of Electronics & IT (MeitY) under Digital India programme. It is a secure cloud based platform for storage, sharing and verification of documents and certificates.
Karan Desai, Founder at Interface Ventures, said that rolling out of a National Data Governance Policy will encourage R&D by using the Aadhaar and DigiLocker platforms to simplify individual address reconciliation and verification across all regulators.
"MSMEs will benefit from steps including continued reduction of unnecessary compliances to promote ease of doing business and additional infusion of 9,000 crores in the Credit Guarantee scheme from April 1, 2023, with reduction in cost of guarantee by 1 per cent," said Desai.
J.P. Nadda holds meeting with Tripura BJP leaders; discusses party-related issues
Bharatiya Janata Party (BJP) national president J.P. Nadda on Sunday held an important meeting with Tripura's state unit leaders including Chief Minister Manik Saha and discussed various party affairs.
One body recovered from Telangana tunnel on day 16 of rescue operation
Rescue workers on Sunday - the 16th day of the operation - pulled out the body of one of the eight missing persons from the partially collapsed SLBC tunnel in Telangana’s Nagarkurnool district after the cadaver dogs from Kerala identified the spot for presence of human remains under the rubble.
FM says GST rates to be reduced further, rationalised; Congress demands overhaul
Union Finance Minister Nirmala Sitharaman has said that Goods and Services Tax (GST) rates will be reduced further as the process of rationalising tax slabs is nearing completion.
'Anti-incumbency is an issue of the past now': J.P. Nadda hails PM Modi's leadership in Tripura rally
Bharatiya Janata Party (BJP) national president J.P. Nadda on Sunday said that the political culture in India has changed after Narendra Modi became Prime Minister, adding that people earlier used to talk about the anti-incumbency factor against the government.
Budget Session: Second leg to see fireworks over delimitation row, Trump's tariffs; Waqf Bill on govt's agenda
The second leg of the Budget session of Parliament is set to resume on Monday and is expected to be a stormy one with both the Opposition and Government ready to outdo each other on multiple issues.
PM Modi visits Vice President Dhankhar in AIIMS, wishes him speedy recovery
Prime Minister Narendra Modi on Sunday visited the AIIMS Delhi to enquire about the health of Vice President Jagdeep Dhankhar and prayed for his speedy recovery.
India, EU to hold next round of trade talks on March 10
India and the European Union are scheduled to begin the next round of talks for a proposed free trade agreement (FTA) from Monday in Brussels with the aim of concluding the talks by the end of this year, a senior official said.
Nari Shakti is foundation of Viksit Bharat: CM Manik Saha
Tripura Chief Minister Prof. Dr. Manik Saha today said that women are crucial for making Ek Tripura Srestha Tripura and Nari Shakti of the 21st century is the foundation of Viksit Bharat.