Corporate Bhavan | 03 May 2025

Why in News? 

Union Finance and Corporate Affairs inaugurated the ‘Corporate Bhavan’ in New Town, Kolkata.  

Key Points 

  • Corporate Bhavan: 
    • The seven-storey building spans approximately 13,239 square metres and was constructed at a cost of around Rs 150.43 crore. 
    • The Corporate Bhavan integrates key offices under the Ministry of Corporate Affairs under one roof, such as: 
      • Regional Directorate (East), Registrar of Companies, Official Liquidator, Serious Fraud Investigation Office (SFIO), National Company Law Tribunal (Kolkata Bench), Insolvency and Bankruptcy Board of India (IBBI). 
    • The Minister stated that the facility will act as a single-window interface for startups, investors, auditors, companies, and insolvency professionals. 
    • The Minister also emphasised the need for regulatory frameworks that: 
      • Promote good governance 
      • Support enterprise and formalisation 
      • Build public trust in regulatory systems 
  • PM Internship Scheme (PMIS) Facilitation Centre: 
    • The first-ever PMIS Facilitation Centre was also launched during the event, located on the 7th floor of Corporate Bhavan. 
    • The centre will serve as a resource hub for aspiring interns seeking guidance and support under the PM Internship Scheme. 
    • Objectives:  
    • Key functions:  
      • Facilitating registration and application under PMIS 
      • Offering professional career counselling and guidance 
      • Matching candidates with suitable internships 
      • Raising awareness through outreach programmes 

 PM Internship Scheme 

  • The scheme aims to provide students with internship opportunities to address youth unemployment.   
    • It seeks to provide internships to 1 crore young people over the next five years.  
  • Applicants will get a monthly stipend of Rs 4,500 from the government, and an additional Rs 500 by companies as part of their Corporate Social Responsibility initiatives consisting of one year.  
  • A one-time grant of Rs 6,000 will be provided upon enrollment, along with insurance coverage under the PM Jeevan Jyoti Bima Yojana and PM Suraksha Bima Yojana.