RBI Clarification on New Definition of Micro, Small and Medium Enterprises

RBI Clarification on New Definition of Micro, Small and Medium Enterprises The Reserve Bank of India (RBI) issued Clarification on New Definition of Micro, Small and Medium Enterprises vide Circular No. RBI/2021-2022/161(FIDD.MSME & NFS.BC.No.16/06.02.31/2021-22) dated 18.02.2022.

The Circular is Given Below :

Please refer to the circular FIDD.MSME & NFS.BC.No.12/06.02.31/2021-22 dated June 25, 2021 on ‘New Definition of Micro, Small and Medium Enterprises’. 2. In this connection, we inform that Government of India, vide their Gazette Notification S.O. 278(E) dated January 19, 2022, has notified amendments in the paragraph (7) sub-paragraph (3) in the notification of Government of India, Ministry of Micro, Small and Medium Enterprises number S.O. 2119 (E), dated June 26, 2020, published in the Gazette of India. 3. In view of the above amendment, paragraph 3 of the said circular would stand modified as under:

“The existing Entrepreneurs Memorandum (EM) Part II and Udyog Aadhaar Memorandum (UAMs) of the MSMEs obtained till June 30, 2020 shall remain valid till March 31, 2022.”

4. Further, it is clarified that the validity of documents obtained in terms of O.M. No.12(4)/ 2017-SME dated March 8, 2017 (RBI Circular FIDD.MSME & NFS.BC.No.10/06.02.31/2017-18 dated July 13, 2017), for classification of MSMEs upto June 30, 2020, are also valid upto March 31, 2022. 5. All other provisions of the circular remain unchanged. To Read Circular Download PDF Given Below :