MANU/RMIC/0097/2022

Ministry : Reserve Bank of India

Department/Board : Financial Inclusion and Development Department

Circular No. : FIDD.MSME & NFS.BC.No.7/06.02.31/2022-2023
                   RBI/2022-2023/52

Date : 19.05.2022

Notification/ Circulars Referred : Circulars FIDD.MSME & NFS.BC.No.3/06.02.31/2020-21 dated July 2, 2020 MANU/RMIC/0102/2020;FIDD.MSME & NFS.BC.No.4/06.02.31/2020-21 dated August 21, 2020 MANU/RMIC/0117/2020;FIDD.MSME & NFS.BC.No.16/06.02.31/2021-22 dated February 18, 2022 MANU/RMIC/0024/2022;Notification S.O. 2134(E) dated May 06, 2022 MANU/MSME/0003/2022;Number S.O. 2119 (E), dated June 26, 2020 MANU/MSME/0006/2020;RBI Circular FIDD.MSME & NFS.BC.No.10/06.02.31/2017-18 dated July 13, 2017 MANU/RMIC/0097/2017

Citing Reference:
Circulars FIDD.MSME & NFS.BC.No.3/06.02.31/2020-21 dated July 2, 2020 MANU/RMIC/0102/2020  Referred

FIDD.MSME & NFS.BC.No.4/06.02.31/2020-21 dated August 21, 2020 MANU/RMIC/0117/2020  Referred

FIDD.MSME & NFS.BC.No.16/06.02.31/2021-22 dated February 18, 2022 MANU/RMIC/0024/2022  Referred

Notification S.O. 2134(E) dated May 06, 2022 MANU/MSME/0003/2022  Referred

Number S.O. 2119 (E), dated June 26, 2020 MANU/MSME/0006/2020  Referred

RBI Circular FIDD.MSME & NFS.BC.No.10/06.02.31/2017-18 dated July 13, 2017 MANU/RMIC/0097/2017  Referred

The Chairman/ Managing Director/Chief Executive Officer
All Commercial Banks
(including Small Finance Banks, Local Area Banks and Regional Rural Banks)
All Primary (Urban) Co-operative Banks/State Co-operative Banks/
District Central Co-operative Banks /All-India Financial Institutions/
All Non-Banking Financial Companies

Dear Sir/Madam,

New Definition of Micro, Small and Medium Enterprises - Clarification

1. Please refer to our circulars FIDD.MSME & NFS.BC.No.3/06.02.31/2020-21 dated July 2, 2020, FIDD.MSME & NFS.BC.No.4/06.02.31/2020-21 dated August 21, 2020 and FIDD.MSME & NFS.BC.No.16/06.02.31/2021-22 dated February 18, 2022, regarding revised criteria for classification of Micro, Small and Medium Enterprises.

2. Government of India, vide Gazette Notification S.O. 2134(E) dated May 06, 2022, has notified amendments in sub paragraph (3) paragraph (7) of the notification of Government of India, Ministry of Micro, Small and Medium Enterprises number S.O. 2119 (E), dated June 26, 2020, published in the Gazette of India.

3. In view of the above amendment, it is clarified that:

i) the existing Entrepreneurs Memorandum (EM) Part II and Udyog Aadhaar Memorandum (UAM) of the MSMEs obtained till June 30, 2020 shall remain valid till June 30, 2022 for classification as MSMEs; and

ii) the validity of documents obtained in terms of O.M. No.12(4)/ 2017-SME dated March 8, 2017 (RBI Circular FIDD.MSME & NFS.BC.No.10/06.02.31/2017-18 dated July 13, 2017), for classification of MSMEs upto June 30, 2020, has been extended upto June 30, 2022.

Yours faithfully
(Nisha Nambiar)
Chief General Manager