Updated: 16-04-2025 at 12:33 PM
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With time, the world is shifting its focus from traditional approaches to working to modern and tech-friendly modes of working. Various sectors including the business sector are working on innovating and trying new digital measures to simplify their work. One of the focused areas of the business sector is to reduce hefty paperwork by turning it into digital copies in a safe platform.
To allow the business to do the same, the National e-Governance Division (NeGD) under the Ministry of Electronics and Information Technology (MeitY) launched a digital platform called the Entity Locker. The main aim of the digital platform is to help businesses in managing and securing relevant documents.
Read the news article to learn about the major specifics of the Entity Locker ranging from its meaning to features.
Entity Locker is a new digital platform created by the National e-Governance Division (NeGD) under the Ministry of Electronics and Information Technology (MeitY). The Entity Locker helps business entities like large corporations, micro, small, and medium Enterprises (MSMEs), trusts, startups, and societies in simplifying the storage, sharing, and verification of documents.
The digital platform is a crucial part of India’s Digital Public Infrastructure (DPI) aligning with the vision of the Union Budget of 2025.
There are several features of the newly launched digital platform that aim to help businesses. Some of its key features are:
Proper verification of documents as the platform is linked with government databases such as the Goods and Service Tax Network (GSTN), Ministry of Corporate Affairs, Directorate General of Foreign Trade (DGN), etc.
Some of the cases in which the digital platform provides support are:
Vendor verification
Vendor verification during registration in GSTN, MCA, and tendering process
Expedited loan applications of MSMEs
FSSAI compliance documentation
Streamlined corporate annual filings
For security, Aadhaar-based authentication is mandated along with 10 GB of encrypted cloud storage.
Consent is required while requesting the documents.
The newly launched digital platform comes with numerous benefits for businesses. Some of its major benefits are mentioned below for one’s better understanding and reference:
Organised storage and sharing of documents with concerned parties.
Increases accountability as one can track all document-related activities in the platform.
Reduces the administrative workload.
Minimises the processing time of documents and smoothens the working of the business entities.
Entity Locker isn’t merely a document vault to be used by business entities but also a symbol of the innovation and growth of India and its people. With time, the authorities aim to link the platform with more government platforms and agencies.
The Entity Locker is an application that every business entity was waiting and searching for. It is like a safety vault for the documents of the businesses that aims to ease the functioning of the business sector by reducing their administrative workload.
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