5 Apr 2023, 12:34 — 5 min read
The Udyam Assist Platform (UAP), also called the Formalisation Project has been launched by the Ministry of MSME, Government of India, to facilitate online registration of Informal Micro Enterprises (IMEs).
It is important to note that the certificate issued on the Udyam Assist Platform (UAP) would be treated at par with Udyam Registration Certificate for IMEs for availing of the benefits of Priority Sector Lending (PSL).
Here are answers to frequently asked questions regarding the Udyam Assist Platform (UAP), also called the Formalisation Project.
1. What is MSME Formalisation?
Currently, MSMEs can register online and generate their Udyam Registration Number (URN) on Udyam Registration Portal (URP) of Ministry of MSME, Govt of India. URN is essential for a bank loan to an MSME to be classified under Priority Sector Lending.
Most unregistered MSMEs are Informal Micro Enterprises (IMEs) which may not have necessary documents, motivation, ability or awareness to register on the Udyam Portal. MSME Formalisation project’s principal objective is to register the large number of IMEs through Assist mode with the help of Designated Agencies like banks, NBFCs, MFIs, etc. on the Udyam Assist Platform of Ministry of MSME, GoI.
2. What are Designated Agencies
Designated Agencies (DAs) are partners in the MSME Formalisation project which shall facilitate the generation of Udyam Registration Number (URN) for their Informal Micro Enterprise customers through the Udyam Assist Platform at www.udyamassist.gov.in
DAs include Banks, NBFCs, MFIs, etc. or any other agency as approved by MoMSME from time to time. Authorised Banking Correspondents/agents of DAs shall be allowed to support the Informal Micro Enterprise registration on behalf of their respective DAs. DAs interested in joining the project may write to firstname.lastname@example.org
3. What is the role of SIDBI in the MSME Formalisation project?
SIDBI is authorised by Ministry of MSME to act as the Implementing Agency for executing the Udyam Assist Platform for registering Informal Micro Enterprises (IMEs).
MoMSME has also authorised SIDBI to collect data (including Aadhaar information) of IME customers available with Designated Agencies like banks, MFIs, NBFCs, etc.
4. What is Assist Methodology?
Considering the informal profile of Informal Micro Enterprises (IMEs), an ‘Assist Methodology’ is developed for their registration. Registrations will be done with the assistance of Designated Agencies (DAs) like Banks, NBFCs, MFIs, etc. which will share the required data for Udyam Registration of their IME customers.
5. Can an Informal Micro Enterprise register directly on the Udyam Assist Platform?
Informal Micro Enterprise cannot individually register itself on Udyam Assist Platform (UAP). Interested IME can approach its bank, NBFC, MFI, etc. for assistance in its registration on UAP.
6. What are Udyam Registration Number and Udyam Assist Certificate?
Udyam Registration Number with an exclusive number series of Udyam-I is issued to Informal Micro Enterprises registered on the Udyam Assist Platform.
Udyam Assist Certificate is issued to all Informal Micro Enterprises having an Udyam Registration Number issued by the Udyam Assist Platform.
7. Will registration on Udyam Assist Platform help an Informal Micro Enterprise in getting Priority Sector Lending cover?
Yes. MoMSME has since informed that Udyam Assist Certificate issued through Udyam Assist Platform is eligible for availing benefits of Priority Sector Lending.
8. What documents should be submitted by Informal Micro Enterprises for getting registered on Udyam Assist Platform?
Nil. Informal Micro Enterprises need not share any documents for their registration on Udyam Assist Platform. Designated Agencies shall share the required information of Informal Micro Enterprise customers as available with them on Udyam Assist Platform. Consent of the enterprise shall be obtained by the Designated Agency/Udyam Assist Platform for making available the Udyam Registration Number and Udyam Assist Certificate.
9. How can an Informal Micro Enterprise access the registration certificate?
Informal Micro Enterprise can obtain its Udyam Registration Number/Udyam Assist Certificate from its Designated Agency or download from Udyam Assist Platform by submitting validations. In case of PM SVANidhi beneficiaries, vendors can download their Udyam Assist Certificates by accessing the PM SVANidhi portal (https://pmsvanidhi.mohua.gov.in) through their login IDs.
Content source: https://udyamassist.gov.in/faq
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