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The Ministry of Micro, Small and Medium Enterprises vide Office Memorandum dated July 2, 2021 has allowed Udyam registration for retail and wholesale trade. Bank’s lending to the Micro, Small and Medium enterprises as under is eligible to be reckoned for priority sector advances: What is the definition of MSME? (ii) Further, such MSMEs should be engaged […]
In terms of Government of India Gazette Notification dated June 26, 2020 the definition of MSME – Micro, Small and Medium enterprises is as under: Micro enterprise (i) A micro enterprise is an enterprise where the investment in plant and machinery or equipment does not exceed ₹1 crore and turnover does not exceed ₹5 crore; […]
How do banks assess the working capital requirements of MSME borrowers ? Banks have been advised to put in place loan policies governing extension of credit facilities for the MSE sector duly approved by their Board of Directors. Banks have, however, been advised to sanction limits after proper appraisal of the genuine working capital requirements of […]
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