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MSME registration now allowed for wholesalers, retailers: RBI to banks
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Last Updated: Jul 08, 2021, 10:23 AM IST
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Synopsis
The Ministry of Micro, Small and Medium Enterprises through an office memorandum had said that retail and wholesale trade would be classified as MSMEs for the limited purpose of priority sector lending and they would be allowed to be registered on Udyam Registration Portal.
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UAM is a one-page registration form which constitutes a self-declaration format under which the MSME will self-certify its existence, bank account details, promoter s Aadhaar details and other required information.
NEW DELHI: Days after the government announced that wholesale and retail trade would come under the ambit of micro, small and medium enterprises, the Reserve Bank of India (RBI) has written to banks that wholesale and retail traders are now allowed to be registered on the Udyam Registration Portal and get classified as an MSME.
MSME registration now allowed for wholesalers, retailers: RBI to banks
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