Reclassification of MSMEs

RBI on December 28, 2023 has notified revised criteria for reclassification of MSMEs. The revised regulations issued by Ministry of MSMEs have clarified that MSMEs are required to register online on the Udyam Registration portal and obtain ‘Udyam Registration Certificate’.

For Priority Sector Lending purposes banks shall be guided by the classification recorded in the Udyam Registration Certificate (URC).

RECENT UPDATES