Category: MSME
Government reduces turnover limit from Rs. 500 crores to Rs. 250 crores for applicability of Trade Receivables Discounting System platform Companies with turnover more than Rs. 250 crore to comply with Trade Receivables Discounting System platform. This will enable MSME to access credit from banks based on their …
Banks are obliged to adopt restructuring process of MSME Loans on its own. Framework contained in the Notification dated 29.05.2015 is mandatory in nature – Supreme Court In a recent judgment, Hon’ble Supreme Court has held that Banks are obliged to adopt restructuring process of MSME Loans on …
No change in MSMEs classification for three years in case of change in investment in plant & machinery or turnover etc. Ministry of Micro Small and medium Enterprises have issued a notification relaxing the provisions for classification of MSMEs in case of change in terms of investment in …
Existing Entrepreneurs Memorandum / Udyog Aadhaar Memorandum (UAM) of MSMEs obtained till June 30, 2020 shall remain valid till June 30, 2022 for classification as MSMEs. In June 2020, the Government of India had notified revised criteria for classification of Micro, Small and Medium Enterprises (MSMES). As per …
Credit Guarantee Scheme for Subordinate Debt for Stressed SMEs NPA loan accounts extended till 31.03.2022 Government had announced creation of ‘Distressed Assets Fund- – Subordinate Debt for Stressed MSMEs’ on 13th May, 2020, under the Aatma Nirbhar Bharat Package. A scheme viz. ‘Credit Guarantee Scheme for Subordinate Debt’ was …
Definition of Micro Small and Medium Enterprises – Retail & Wholesale Trade added The Ministry of Micro , Small and Medium Enterprises (MSMEs) has decided to include Retail and wholesale trades as MSMEs and they are allowed to be registered on Udyam Registration Portal. However, benefits to …
RBI extends restructuring of MSMEs existing loans without downgrade in asset classification In August 2020, to support the MSME entities on account of Covid-19 pandemic RBI had permitted that existing loans to MSMEs classified as ‘standard’ may be restructured without a downgrade in the asset classification. In view …
Value of Plant & Machinery or Equipment for MSMEs new Definition-RBI withdraws its Circular in view of Govt. clarification The Government had recently notified new criteria for classifying MSMEs. The RBI then issued a circular suggesting documents that can be relied upon by banks for arriving at investment …
Existing loans to MSMEs classified as ‘standard’ may be restructured without a downgrade in the asset classification Micro, Small and Medium Enterprises (MSME) sector – Restructuring of Advances To support the MSME entities on account of the fallout of Covid-19 pandemic RBI has decided that existing loans to …
CBDT signs MOU with Ministry of MSME to enable check & classify enterprises Memorandum of Understanding (MoU) between CBDT and MoMSME signed today A formal Memorandum of Understanding (MOU) was signed today between the Central Board of Direct Taxes (CBDT) and the Ministry of Micro, Small and Medium …
