MSME
MSME Certification
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MSME stands for micro, small and medium enterprises, and these are the backbone of our country and are an engine of economic growth, promoting equitable development for all. To support and promote MSMEs, the Government of India, through various subsidies, schemes, and incentives, promote MSMEs through the MSMED Act. To avail of the benefits under the MSMED Act from the Central or State Government and the Banking Sector, MSME Udyam Registration is required.
Benefits of Udyam Registration for MSME
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The Government of India, Ministry of Micro, Small and Medium Enterprises (MSME) vide Gazette of India notified composite criteria consisting of investment and turnover for classifying the enterprises as Micro, Small and Medium Enterprises 2020. Confirming the new definition of MSMEs and ease of doing business would facilitate MSMEs for a permanent Registration, i.e., Udyam Registration.
Who is eligible for MSME loan?
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What is the MSME loan eligibility criteria? Work status: Self-employed professionals (SEP) – Allopathic doctors, company secretaries, chartered accountants and architects practising their profession. Self-employed non-professionals (SENP) – Traders, retailers, manufacturers, proprietors and service providers.