Validity of Udyog Aadhaar Memorandum extended till December 31
- The extension would facilitate the holders of EM Part II and UAMs to avail benefits of the provisions under the various existing schemes and incentives including Priority Sector Lending benefits of MSME, the ministry said.
In a bid to provide relief to the micro, small and medium enterprises (MSME) amid the Covid scenario, the government has extended the validity of the Udyog Aadhaar Memorandum (UAM) from March 31 to December 31.
The ministry of micro, small and medium enterprises has issued an amendment to the original notification and extended the validity of Enterprise Memorandum (EM) Part II for the same duration as well. The extension would facilitate the holders of EM Part II and UAMs to avail benefits of the provisions under the various existing schemes and incentives including Priority Sector Lending benefits of MSME, the ministry said.
"Considering the hardships faced by MSMEs during the prevailing Covid-19 situation and the representations received from the various MSME associations, financial institutions and Government departments dealing with the interest of MSME Sector, the said amendment has been carried out," a statement by the ministry read.
Last year on June 26, the ministry issued a notification changing the definition of MSMEs and introduced a new process for the registration of MSME i.e. Udyam Registration. As per the notification, the existing MSME registration (Udyog Aadhaar Number (UAN) or EM would become invalid after March 31, 2021.
Further, the ministry said that it is expected that existing EM Part-II and UAM holders would be able to migrate to the new system of Udyam Registration that was launched on July 1, 2020 and would avail the benefits of government schemes. "Paving the way for strengthening MSMEs and leading to their faster recovery, boost to their economic activity and creation of jobs," the ministry added.
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Interested enterprises can register on https://udyamregistration.gov.in for free and without any documents. Only PAN and Aadhaar are required for registering on the Udyam portal.
The new portal has since its launch last year registered and classified more than 3.3 million (3,316,210) enterprises as of Thursday, the ministry informed.