Union MSME Minister launches Udyam Assist – a Formalization Platform for the Informal Micro Enterprises (17/1/2022)
Union MSME Minister launches Udyam Assist – a Formalization Platform for the Informal Micro Enterprises
The Union MSME Minister Narayan Rane on the 11th of January 2023 launched Udyam Assist, a formalization platform for Informal Micro Enterprises (IME).
The platform is launched as till date only 40,000 of the estimated 6 cr micro units are registered on the Udyam portal, leaving 99% still unregistered. Some of the reasons for the low registrations are lack of necessary documents, motivation, and ability to register.
The proposed assist methodology will help the IMEs register through the Designated Agencies (DAs) like banks, NBFCs, micro finance institutions, small finance banks, regional rural banks, etc.
The registered enterprises will have an Udyam registration number (URN) and will also get Udyam Assist Certificate (UAC).