Page 34 - Banking Finance October 2024

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receivables to multiple financiers, ensuring quicker clusters and technology centres for global
access to working capital. competitiveness, with positive feedback from industry
stakeholders.
Rs. 50,000 crore equity infusion through Self Reliant
India Fund. This scheme has a provision for corpus
The Udyam Registration Portal was launched on
of Rs.10,000 crore from Government of India.
01.07.2020 to facilitate ease of registration for MSMEs
Under Vivad se Vishwas - Relief by way of refund and access to all the Schemes and benefits. The registration
of 95% of the deducted performance security, bid
process is free of cost, paperless and digital. As on
security and liquidated damages was provided to
05.02.2024, more than 3.64 crore MSMEs with an
MSMEs. Relief was also provided to MSMEs
employment of more than 16.86 crore, have registered on
debarred for default in execution of contracts.
Udyam Portal (this includes the Informal Micro Enterprises
Registration of MSMEs through ''Udyam Registration (IMEs) registered on Udyam Assist Platform (UAP)).
Portal'' for Ease of Doing Business.
No global tenders for procurement up to Rs. 200 Success Story:
crore. Chhagan Bhujbal Shetkari Stree Shakti
Inclusion of retail and wholesale trades as MSMEs Sanghatna
w.e.f. 02.07.2021. This women's self-help group in Maharashtra has
successfully transformed the lives of rural women through
Non-tax benefits extended for 3 years in case of an
agriculture and allied activities. By providing access to
upward change in status of MSMEs.
finance, training, and markets, the group has empowered
Roll out of Raising and Accelerating MSME
women to become entrepreneurs and contribute to their
Performance (RAMP) programme with an outlay of
community's development.
Rs. 6,000 crore over 5 years.
Integration of Udyam Registration Portal with Ludhiana's Auto Parts Cluster
National Career Service (NCS) of Ministry of Labour& The thriving auto components cluster in Ludhiana, Punjab
Employment and Skill India Digital of Ministry of exemplifies the MSME sector's economic impact. Hundreds
Skill Development and Entrepreneurship. Registered of small manufacturers form a robust supply chain,
MSMEs are enabled to reach out to trained producing everything from nuts and bolts to complex engine
manpower and capacity building. parts for both domestic and international markets.

Launch of Udyam Assist Platform (UAP) to bring the
Informal Micro Enterprises (IMEs) under the formal Amul:
ambit for availing the benefit under Priority Sector A dairy cooperative that has transformed the lives of
Lending (PSL). millions of milk producers.
Launch of 'PM Vishwakarma' Scheme on 17.09.2023
Bajaj Auto:
to provide end to end holistic benefits to the traditional
Started as a small workshop and has evolved into a global
artisans and craftspeople engaged in 18 trades.
automotive giant.
In the interim budget 2024-2025, it was announced
the establishment of a corpus totalling Rs. 1 lakh Patanjali:
crore (US$ 11.99 billion), offering 50-year interest- A successful FMCG company focusing on natural and
free loans. This initiative aims to incentivize the
Ayurvedic products.
private sector, particularly MSMEs, to enhance
research and innovation in emerging sunrise domains. Liva Fluid Technologies:
Interim Budget 2024 allocates Rs. 22,137.95 crores A Hyderabad-based MSME that developed a world-class
(US$ 2.65 billion) for MSMEs, emphasizing new engine oil additive.

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