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MSME Registration and It’s benefits. Get loans with Udyog Aadhar certificate.

Benefits of MSME registration. Get loans from banks through MSME certificate. 
      Recently our prime minister has announced a ₹20 lakh crore (20000000000000) package, out of which ₹3 lakh crore for MSME. So let’s know what’s MSME is and what are the benefits of MSME registration?

MSME - Ministry of Micro, Small and Medium Enterprises

MSME is a branch developed by the government to encourage and support small, micro, and medium organizations. It conducts the rule and regulation for them and helps them to grow by providing financial support as well as with it’s training programs. It’s established in 2006. The Minister of Micro, Small and Medium Enterprises is Nitin Gadkari and the Minister of State is Pratap Chandra Sarangi , who were elected in 2019 election from BJP.
Objective- The main objective of MSME is to help small, micro and medium business/ service industries. The government is now focusing on this segment because the major part of our economy and employment depends on these industries.

MSME divided industries into 2 categories. 
Manufacturing & Services
And both are divided into – Micro, Small & Medium

Benefits of MSME Registration
The MSME registration is now known as UDYOG ADHAR Registration. Previously it was chargeable, but now it’s completely free. 

1. It’s easy to get a bank loan with MSME certificate with a low-interest rate in comparison to regular loans.
2. No guarantee required for the loan.
3. Help from the state government in their respective schemes.
4. 1% less interest in overdraft
5. Discounts or reimbursement schemes are available for other registrations like TRADEMARK & ISO
6. Most of the government tender’s eligibility is based on the MSME certificate.
7. Protection in delay payment (In case someone delayed in payment and the credit period of 15-45 days exceeds, then he has to pay with the compound interest.)
8. Also, you can get a discount on your electricity bill if you attach your MSME certificate with your application.

Documents Required for MSME Registration
1. Aadhaar card 
2. Register mobile no (Linked with your Aadhar card, for OTP purpose)
3. Bank Details
4. Company establishment date (On registration certificate)
5. Address of your business

Link for UDYOG AADHAR registration

Some other schemes launched by the government are –
1. Udyog Aadhaar memorandum
2. Zero Defect Zero Effect
3. Quality Management Standards & Quality technology Tools
4. Grievance Monitoring System
5. Incubation
6. Credit Linked Capital Subsidy Scheme
7. Credit Linked Capital Subsidy Scheme
8. Women Entrepreneurship

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