Udyam Assist Platform sees massive 1.50 crore Registrations of Informal Micro Enterprises

Over the previous 14 months, overall IME registrations on the Udyam Assist Platform have surpassed 1.50 crore.

Udyam Assist Platform sees massive 1.50 crore Registrations

Reetu | Mar 5, 2024 |

Udyam Assist Platform sees massive 1.50 crore Registrations of Informal Micro Enterprises

Udyam Assist Platform sees massive 1.50 crore Registrations of Informal Micro Enterprises

The Ministry of Micro, Small, and Medium Enterprises established the Udyam Assist Platform on January 11, 2023, to expedite the registration of Informal Micro Enterprises (IMEs) through the generation of the Udyam Assist Certificate.

SIDBI is the project’s implementing agency. IMEs without GSTN are permitted to register on the Udyam Assist Platform.

Over the previous 14 months, overall IME registrations on the Udyam Assist Platform have surpassed 1.50 crore.

The Government of India has stipulated, in Gazette Notification S.O. 1296(E) dated March 20, 2023, that the certificate given on the UAP to IMEs will be treated equally with the Udyam Registration Certificate for the purpose of availing Priority Sector Lending (PSL) benefits.

As a result, the RBI, in a circular dated May 9, 2023, stated that IMEs with a Udyam Assist Certificate will be classified as Micro Enterprises under MSME for PSL classification.

StudyCafe Membership

Join StudyCafe Membership. For More details about Membership Click Join Membership Button
Join Membership

In case of any Doubt regarding Membership you can mail us at [email protected]

Join Studycafe's WhatsApp Group or Telegram Channel for Latest Updates on Government Job, Sarkari Naukri, Private Jobs, Income Tax, GST, Companies Act, Judgements and CA, CS, ICWA, and MUCH MORE!"




Author Bio
My Recent Articles
RBI improves Digital Payments this Diwali Season, Sets High UPI Transaction Goals Tax Return: More than 9.54 Lakh Crorepati Taxpayers filed ITR until October 31 Government may be deferred Pillar-2 Tax Rules citing Limited Gain Income Tax Vivad Se Vishwas Scheme 2.0 comes into Effect; Know all about it CBI arrested Two GST Officials for Demanding Bribe of Rs.4 LakhView All Posts