State PCS - West Bengal (WBCS)

• 03 May 2025

Corporate Bhavan

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:  
    • Established as a collaborative initiative between MCA and Confederation of Indian Industry (CII). 
    • Targets youth aged 21–24 who are not in full-time education or employment. 
  • 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.