MSMEs Entrepreneurs reaping benefits from the “Samadhaan” Portal: Panda

New Delhi, Feb 8 (KNN) The Delayed Payment Portal “Samadhaan” which was set up with the objective to resolve delayed payment issues of MSME has done a full justice with the entrepreneurs by serving its purpose, MSME Secretary Arun Kumar Panda said during an interaction.

He said as of now there are around 2,900 applications of over Rs 704 crore delayed payments have been registered and as per the priority basis cases are being settled.

Dr Panda said Union Ministry of Petroleum and Natural Gas headed by Dharmendra Pradhan has taken pro-active measures to sort out delayed payments of MSME Sector, which reflects in the portal.

Higher level of administration look after the cases related to delay payments of MSME sector which has made the life easier of entrepreneurs, he further added.

He requested the State Governments to take the benefit of the portal, which will benefit the MSME entrepreneurs.
The portal will also make the authorities aware about the issues of delayed payment from the departments and PSUs of the State Government.

The portal, www.samadhaan.msme.gov.in has been set up with an objective of empowering MSMEs across the country to directly register their cases related to delayed payment by Central Ministries and various government departments.

He further said that the Micro, Small and Medium Enterprise Development (MSMED) Act, 2006 contains provisions to deal with cases of delayed payment to Micro and Small Enterprises (MSEs).

As per the provisions, the buyer is liable to pay compound interest with monthly rests to the supplier on the amount at three times of the bank rate notified by Reserve Bank of India in case he does not make payment to the supplier for supply of goods or services within 45 days of the day of acceptance of the goods/service or the deemed day of acceptance.

The portal will not only give information about pending payment of MSEs with individual CPSEs / Central Ministries, State Governments, etc but also the concerned ministries able to monitor the cases of delayed payment under their jurisdiction and issue necessary instructions to resolve the issues.

The information available on the portal is a Public Domain and therefore it puts a moral pressure on the defaulters. MSME can also access the portal and monitor their cases.

There was time that when these cases were handled by the MSE Facilitation Council and Over 5,100 applications were pending with a delayed payment amount of over Rs 2,050 crore over the years.

But with the launch of MSME Samadhaan Portal, issues are resolved within a stipulated time period and entrepreneurs are reaping the benefits, said Panda. (KNN/YV)