Entity Locker is a newly launched digital platform by the Government of India, aimed at enhancing the management and verification of business documents.
Developed by the National eGovernance Division (NeGD) under the Ministry of Electronics and Information Technology (MeitY), it serves as an extension of the existing DigiLocker system, specifically tailored for corporate entities, micro, small, and medium enterprises (MSMEs), trusts, startups, and societies.
Key Features of Entity Locker
- Real-time Access: Users can access government databases in real-time, facilitating quicker document verification and management.
- – Consent-based Sharing: The platform employs mechanisms that allow for secure sharing of sensitive information based on user consent.
– Aadhaar Authentication: Role-based access management is ensured through Aadhaar authentication, enhancing accountability.
– Digital Signatures: Legally valid digital signatures are provided for documents stored within the locker.
– Storage Capacity: Each user receives 10 GB of encrypted cloud storage for secure document handling.
Benefits
Entity Locker is designed to streamline various business processes, including:
– Vendor Verification: Simplifies the verification process on procurement portals.
– Loan Approvals: Speeds up loan approvals for MSMEs by providing necessary documentation quickly.
– Regulatory Compliance : Facilitates compliance with regulations from bodies such as the Food Safety and Standards Authority of India (FSSAI) and Goods and Services Tax Network (GSTN).
– Corporate Filings: Eases the process of corporate annual filings and registrations with relevant authorities like the Ministry of Corporate Affairs (MCA).
The initiative aligns with India’s broader goals of improving digital governance and facilitating ease of doing business, as highlighted in the Union Budget 2024-25. By integrating with various government systems, Entity Locker aims to reduce administrative burdens and enhance operational efficiency for businesses across sectors.
How secure is the data in Entity Locker?
Data stored in the Entity Locker is designed to be highly secure, employing several advanced security measures:
– Encryption: The platform offers 10 GB of encrypted cloud storage, ensuring that all documents are stored securely and are protected from unauthorized access.
– Authentication Mechanisms: Entity Locker utilizes Aadhaar-authenticated role-based access management, which enhances accountability and restricts
Overall, the combination of encryption, strong authentication methods, and controlled sharing mechanisms makes the Entity Locker a secure solution for document management in India.
Can Entity Locker be accessed through Mobile devices?
Entity Locker can be accessed through mobile devices. The platform is designed to be cloud-based and is compatible with both web portals and mobile applications, allowing users to manage their documents conveniently from anywhere. Users can download the DigiLocker app from the Google Play Store or Apple App Store to access their important documents on their mobile devices.
What kind of documents can be stored in Entity Locker?
Entity Locker allows users to store a variety of documents crucial for business operations. The types of documents that can be stored include:
- Registration Certificates: Documents that confirm the legal establishment of a business entity.
- Tax Documents: Includes GST registration and other tax-related certificates.
- Financial Statements: Such as balance sheets and profit and loss statements.
- Compliance Certificates: Documents required for regulatory compliance, including licenses and permits.
- Investment Documents: Such as shareholder agreements and investment contracts.
- Business Agreements: Contracts with suppliers, customers, or partners.
- Digital Signatures: Legally valid digital signatures for documents stored within the locker.
These documents are equipped with legally valid digital signatures, ensuring compliance with regulatory standards and facilitating secure sharing and verification among stakeholders.
- PIB
