Govt has notified framework for revival of MSMEs, banks need to work on it: Tripathi (Watch Full Intv)
Updated: Oct 15, 2015 04:51:15pm
New Delhi, Oct 15 (KNN) The Ministry of Micro, Small and Medium Enterprises (MSME) has already notified the Udyog Aadhaar Memorandum and the Framework for Revival and Rehabilitation of MSMEs. Knowledge and News Network spoke to DC MSME, S N Tripathi, on the implementations of the notifications.
With the view to promote ease of doing business, the Ministry of MSME has come out with a one page Udhyog Aadhaar Memorandum, which can be filled now on by the micro, small and medium enterprises online. The MSME Ministry notified the simple one-page registration Form ‘Udyog Aadhaar Memorandum’ on September 18, 2015 in the Gazette of India Vide Notification Number S.O 2576 (E).
The main features of UAM include - Single Page Online Registration-Mobile friendly; Self-Certification; Facility to file more than one Udyog Aadhaar; No documents required; No fees for Udyog Aadhaar.
Few months ago, the Ministry of MSME had also notified a Framework for Revival and Rehabilitation of MSMEs. Under the Framework, before a loan account of a MSME turns into a Non Performing Asset (NPA), banks/creditors are required to identify incipient stress in the account. Any MSME may also voluntarily initiate proceedings under this Order if enterprise reasonably apprehends failure of its business or its inability or likely inability to pay debts and before the accumulated losses of the enterprise equals to half or more of its entire net worth
To know more about the implementation, watch Full Interview with S N Tripathi. (KNN Bureau)
With the view to promote ease of doing business, the Ministry of MSME has come out with a one page Udhyog Aadhaar Memorandum, which can be filled now on by the micro, small and medium enterprises online. The MSME Ministry notified the simple one-page registration Form ‘Udyog Aadhaar Memorandum’ on September 18, 2015 in the Gazette of India Vide Notification Number S.O 2576 (E).
The main features of UAM include - Single Page Online Registration-Mobile friendly; Self-Certification; Facility to file more than one Udyog Aadhaar; No documents required; No fees for Udyog Aadhaar.
Few months ago, the Ministry of MSME had also notified a Framework for Revival and Rehabilitation of MSMEs. Under the Framework, before a loan account of a MSME turns into a Non Performing Asset (NPA), banks/creditors are required to identify incipient stress in the account. Any MSME may also voluntarily initiate proceedings under this Order if enterprise reasonably apprehends failure of its business or its inability or likely inability to pay debts and before the accumulated losses of the enterprise equals to half or more of its entire net worth
To know more about the implementation, watch Full Interview with S N Tripathi. (KNN Bureau)
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