MCA Allows Grant for Research Studies on Company and Corporate Governance 

Last Updated at: August 03, 2020
194
MCA Allows Grant for Research Studies on Company and Corporate Governance
  1. What is the MCA grant for research?

  2. Eligibility Criteria for Selection for MCA Grant  

  3. Subjects to be covered for Research Studies?

  4. What is XBRL used for?

What is the MCA grant for research?

The Ministry of Corporate Affairs (MCA) recently stated that they would be handing out grants to encourage students researching corporate affairs. However, the nature of the research should revolve around matters regarding corporate governance. All projects that involve the integration of the MCA-21 database and governance index are eligible for the said research grant. While research institutions and organisations can receive up to INR 50 lakhs, individuals may gain up to INR 20 lakhs in grants.

Eligibility Criteria for Selection for MCA Grant

The applicant must satisfy the following criteria to be eligible for the grant as per the MCA website:

  1. Applicants must be a part of a registered organisation, agency or institution working under statues set by either the Central or State Government.
  2. Individuals who have retired from such organisations as stated above with expertise in research can also apply for the grant.
  3. Standing specification for applying include;
  • Must have merit and academic reputation
  • Must have worked on such surveys and research projects for at least three years before applying

4. Expertise specification for applying include;

  • Expertise in research and analysis when it comes to economic interpretation.
  • Should have the hardware and tools to handle large volumes of data.
  • Should take insight from experts during the research.

get legal advice

Subjects to be covered for Research Studies?

  • Develop a procedure to incorporate the MCA-21 database with others
  • Help evolve or improve the corporate governance index.
  • Identify gaps in dealing with transactions like money laundering, tax evasion or willful default
  • Usage of the MCA-21 registry in analysing financial statements of bankrupt firms.
  • Further, Usage of AI and ML tools for insolvency forecast, and finding financial stress in various sectors.
  • Usage of XBRL.

What is the use of XBRL?

XBRL, which stands for eXtensible Business Reporting Language, serves as a software standard that helps in improving the overall efficiency of financial data communication. It works as an extension or implementation of the Extensible Markup Language, which helps organise and define data. 

The system uses tags to identify financial data, allowing the easy transmission of data between organisations in a secure manner. It also helps in solving compatibility issues that arise due to the development of different accounting standards around the world. 

 

0

MCA Allows Grant for Research Studies on Company and Corporate Governance 

194
  1. What is the MCA grant for research?

  2. Eligibility Criteria for Selection for MCA Grant  

  3. Subjects to be covered for Research Studies?

  4. What is XBRL used for?

What is the MCA grant for research?

The Ministry of Corporate Affairs (MCA) recently stated that they would be handing out grants to encourage students researching corporate affairs. However, the nature of the research should revolve around matters regarding corporate governance. All projects that involve the integration of the MCA-21 database and governance index are eligible for the said research grant. While research institutions and organisations can receive up to INR 50 lakhs, individuals may gain up to INR 20 lakhs in grants.

Eligibility Criteria for Selection for MCA Grant

The applicant must satisfy the following criteria to be eligible for the grant as per the MCA website:

  1. Applicants must be a part of a registered organisation, agency or institution working under statues set by either the Central or State Government.
  2. Individuals who have retired from such organisations as stated above with expertise in research can also apply for the grant.
  3. Standing specification for applying include;
  • Must have merit and academic reputation
  • Must have worked on such surveys and research projects for at least three years before applying

4. Expertise specification for applying include;

  • Expertise in research and analysis when it comes to economic interpretation.
  • Should have the hardware and tools to handle large volumes of data.
  • Should take insight from experts during the research.

get legal advice

Subjects to be covered for Research Studies?

  • Develop a procedure to incorporate the MCA-21 database with others
  • Help evolve or improve the corporate governance index.
  • Identify gaps in dealing with transactions like money laundering, tax evasion or willful default
  • Usage of the MCA-21 registry in analysing financial statements of bankrupt firms.
  • Further, Usage of AI and ML tools for insolvency forecast, and finding financial stress in various sectors.
  • Usage of XBRL.

What is the use of XBRL?

XBRL, which stands for eXtensible Business Reporting Language, serves as a software standard that helps in improving the overall efficiency of financial data communication. It works as an extension or implementation of the Extensible Markup Language, which helps organise and define data. 

The system uses tags to identify financial data, allowing the easy transmission of data between organisations in a secure manner. It also helps in solving compatibility issues that arise due to the development of different accounting standards around the world. 

 

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