Business identification number

Business identification number (BIN) is a proposed identification number to replace eighteen different registration numbers required to be obtained by a company to operate in India. Business identification number or BIN is a proposed identification number to replace eighteen different registration numbers required to be obtained by a company to operate in India.[1][2] The Ministry of Statistics and Programme Implementation is looking at allotting a 16-digit number to each business establishment. Apart from helping the government create and maintain a comprehensive database on businesses, the unique number will also simplify a business's dealings with various governmental agencies by reducing chances of duplicate entities, resolving identity issues and saving time when going for future registrations or licences.[3]

References

1. "Government to improve ease of doing business; to introduce Business Identification Number for companies", The Economic Times, 12 February 2016
2. "Ease of doing biz: Govt to soon introduce Business Identification Number for companies", Business Standard, 12 February 2016
3. Suneja, Kirtika (2 April 2016), "On Aadhaar's lines: Now, unique identity number for businesses on cards", The Economic Times