Enhanced Access and Service Excellence (EASE 4.0) was introduced by Finance Minister Nirmala Sitharaman at a press conference in Mumbai. The initiative is aimed at institutionalizing clean and smart banking in public sector banks.
The term “Shell Companies” is not defined in the Companies Act, and it usually refers to a company without an active business operation or significant assets, which in some cases are used for illegal purposes such as tax evasion, money laundering, obscuring ownership, Benami properties, and so forth. Shri Rao Inderjit Singh, Union Minister of State for Corporate Affairs, made this statement in a written reply to a question in the Rajya Sabha earlier today.