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.