UBIN - GS questions based on daily current affairs

ANSWER: Unique Business Identification Number

Explanation:

• Start-up enterprises will now get a unique identity that will help them to seamlessly interact with a host of government departments in another move towards ease of doing business in India.
• Department of Industrial Policy & Promotion (DIPP) has begun an exercise for issuance of UBIN for budding entrepreneurs to start their new businesses without any delay.
• The DIPP will issue the UBIN for the new entrepreneurs after the receipt of related applications.
• This number would automatically be moved on to MCA (ministry of corporate affairs) portal after it is issued to the intended beneficiary and subsequently sent on to the CBDT (central board of direct taxes) which would nomenclature it as PAN (permanent account number) for UBIN.