Government includes Retail and Wholesale Trade in MSME sector

Government includes Retail and Wholesale Trade in MSME sector

• Ministry of Micro, Small and Medium Enterprises has decided to include Retail and Wholesale trade as MSMEs but only for the limited purpose of Priority Sector Lending.
• This means that these segment of business can now take loan under Priority Sector Lending arrangement under MSME category.
• These Retail and Wholesale traders can now register on Udyam Registration Portal. It is a portal by Government of India for registration of MSMEs.
• The registration will be allowed under three categories:
  • Wholesale and retail trade and repair of motor vehicles and motorcycles
  • Wholesale trade except of motor vehicles and motorcycles
  • Retail trade except of motor vehicles and motorcycles.

Points to remember:

1. Which sector has recently been added to MSME sector by GoI for purpose of Priority Sector Lending?- Retail and Wholesale trade
2. Government has divided Retail and Wholesale trade into how many category for registration on Udyam Portal?- 3
3. Name of the Registration portal for MSME in India?- Udyam Registration Portal

Source: RBI

Office Memorandum MSME