Mumbai: The RBI has notified the revised definition of micro, small and medium enterprises (MSMEs) by adding retail and wholesale trade in this category.
This is following the ministry of micro, small and medium enterprises’ decision to include retail and wholesale trade as MSMEs for the limited purpose of priority sector lending and they would be allowed to be registered on Udyam Registration Portal. Besides tax concessions, Udyam registered entities also have access to cheaper credit and ease in getting various business-related approvals.
