EM & UAMs of MSMEs obtained till June 30, 2020 valid upto March 31, 2022: RBI

New Delhi, Feb 21 (KNN) The Reserve Bank of India (RBI) has said that the existing Entrepreneurs Memorandum (EM) Part II and Udyog Aadhaar Memorandum (UAMs) of the MSMEs obtained till June 30, 2020 shall remain valid till 31st March, 2022.

It has issued this as a clarification on the new definition of micro, small and medium enterprises (MSMEs).

The validity of documents obtained in terms of O.M. No.12(4)/ 2017-SME dated 8th March, 2017 for classification of MSMEs upto 30th June, 2020, are also valid upto 31st March, 2022, clarified the central bank, the apex bank said in a notification.

Previously, all existing enterprises registered under EM–Part-II or UAM shall register again on the Udyam Registration portal on or after the 1st July, 2020.

Further, it has notified that all other provisions of the circular remain unchanged.

The new way of classifying MSMEs was first notified on 26th June, 2020 right after the end of the first wave of Covid-19 pandemic.

It gave classification of enterprises, criteria of investment and turnover for classification, and calculation of investment in plant and machinery or equipment etc. (KNN Bureau)