MSMED Act news

Aatma Nirbhar Yojana Part-1 MSME Perspective

We all are aware that our honorable Prime Minister has called for ‘AATMA NIRBHAR BHARAT’ which is a big leap of faith taken by him to announce 20 Lac crore Economic Package; which is third largest in the world; which has something for every sector of economy. Our Finance Minister has given details of “AATMA […]...

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Posted Under: Finance |

Earlier and revised definition of MSME

Definition of MSME will be revised by raising the Investment limit. An additional criteria of turnover also being introduced. The distinction between manufacturing and service sector will also be eliminated. Definition of MSMEs will be revised Investment limit will be revised upwards Additional criteria of turnover also being introduced. ...

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Posted Under: Finance |

Initiative to Boost MSME Sector by Ministry of MSME

Micro and Small Enterprises Facilitation Councils (MSEFCs) have been set up in all States/ UTs to resolve the delayed payments cases by way of conciliation and / or arbitration as per the provisions of the Micro, Small & Medium Enterprises Development Act, 2006....

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Posted Under: Finance |

Impact of Coronavirus on MSME Sector

It is observed that there is substantial reduction in Demand of goods due to closure of Malls, Shops & Hat Bazar & weekly markets in the Urban, semi Urban & rural areas. This has disturbed the micro economic cycle giving impact on the trade & in turn on the The normal credit cycles of receivables and payments is affected as the markets ar...

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Posted Under: Finance |

MSME Samadhaan portal integrated with IU of NESL to help MSEs

For the convenience of Micro & Small Enterprises (MSEs), we have now integrated the `MSME Samadhaan’ portal with the `Information Utility (IU)’ of National e-Governance Services Ltd. (NeSL) enabling following steps....

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Posted Under: Finance |

Amendments approved in interest subvention scheme for MSMEs

1. Settlement of claims based on internal / concurrent auditor certificate and submission of  statutory auditor’s certificate once by June 30, 2020; 2. Acceptance of claims in multiple lots for a given half year by eligible institutions;...

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Posted Under: Finance |

Several measures taken to ensure timely payments to MSMEs

Union Government is aware that MSMEs are facing challenges in getting due payments on time from large corporations. In order to ensure timely payments and to prevent their accounts from being treated as Non-Performing Assets (NPAs), Government has taken following steps:...

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Posted Under: Finance |

Loans sanctioned in 1,33,448 cases under 59-minutes Scheme to MSME

Press Information Bureau Government of India Ministry of Finance 23-July-2019 17:45 IST Loans sanctioned in 1,33,448 cases under 59-minutes Scheme to MSME Out of 2,00,660 applications submitted, 1,59,583 applications for loans on the psbloansin 59 minutes.com portal have been accorded in principle approval since the launch of the portal. ...

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Posted Under: Finance |

How to file Online Udyog Aadhaar Form

Guidelines for Filling the Online Udyog Aadhaar Form Note: A. EM-I has been abolished. Need not file through Udyog Aadhaar.   B. Udyog Aadhaar (UA) is for running units. No need to apply for upcoming units.  C. New Feature Added for Search Facility of NIC Code to Avoid 3 Step Selection of NIC Activities.  D. OTP […]...

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Posted Under: Finance |

Export Promotion Council Established for MSME Sector 

Ministry of Micro, Small and Medium Enterprises (MSME) has recently established an Export Promotion Cell with an aim to create a sustainable ecosystem for entire MSME development.The benefits likely to accrue to the MSMEs are:...

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Posted Under: Finance |

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