Quick Summary
The Ministry of MSME earlier notified that Retail and Wholesale Trade will now be included under the ambit of MSMEs, for the limited purpose of Priority Sector Lending and they would be allowed to be registered on Udyam Registration Portal. In this regard, the Reserve Bank of India has notified that
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FAQ :
Yes, retail and wholesale trade are now included under the ambit of MSMEs for the limited purpose of Priority Sector Lending.
They can now register on the Udyam Registration Portal.
The registration is for the limited purpose of Priority Sector Lending.
The NIC codes covered are 45 (Wholesale and retail trade and repair of motor vehicles and motorcycles), 46 (Wholesale trade except of motor vehicles and motorcycles), and 47 (Retail trade except of motor vehicles and motorcycles).
Enterprises with a Udyog Aadhaar Memorandum (UAM) under the specified NIC codes are allowed to migrate to the Udyam Registration Portal or file a new Udyam Registration.
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